Company liquidation

Liquidation: the main steps

To close a company properly, it is essential to follow certain rules and steps. The first step is to decide to dissolve the company and put it into liquidation, a formality that must be completed in the presence of a notary.

Once this decision has been made, the partners must appoint a liquidator who will be responsible for managing the various stages of the liquidation. Among other duties, the liquidator must in particular:

• Issue the 3 calls to creditors in the Swiss Official Gazette of Commerce (SOGC) so that creditors can assert their claims.
• Draw up an opening liquidation balance sheet and a closing liquidation balance sheet. If the liquidation takes too long, the liquidator will have to prepare interim liquidation balance sheets.
• Inform the court, which will declare the company bankrupt if its assets no longer cover its debts.

A liquidation can take several years, depending on the complexity and history of the company.

After a minimum period of three months following publication of the third call to creditors, the liquidator may distribute the assets and apply to have the company removed from the commercial register, provided that a licensed audit expert guarantees that the claims are covered. Otherwise, the distribution of assets and the removal of the company from the register may take place at the latest one year after the last call to creditors.

Liquidation: a complex legal and tax process

Liquidating a company is a delicate task that often requires the support of legal professionals to meet the legal and tax obligations that come with it.

Our tax lawyers have a perfect command of all the steps to be followed, whatever the legal form of your company. They are well versed in the tax requirements linked to this final stage in the life of your company.