Liquidating limited company

On application by or for a member or manager the Court of Chancery may decree dissolution of a limited liability company whenever it is not reasonably practicable to carry on the business in conformity with a limited liability company agreement. (e) Section 18-607 of this title shall not apply to a distribution to which this section applies.

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In English law and in legal jurisdictions based upon it, a company is a body corporate or corporation company registered under the Companies Acts or similar legislation. In legal parlance, the owners of a company are normally referred to as the "members".A member is admitted to the limited liability company in the manner provided for in the limited liability company agreement, effective as of the occurrence of the event that terminated the continued membership of the last remaining member, within 90 days or such other period as is provided for in the limited liability company agreement after the occurrence of the event that terminated the continued membership of the last remaining member, pursuant to a provision of the limited liability company agreement that specifically provides for the admission of a member to the limited liability company after there is no longer a remaining member of the limited liability company. (5) The entry of a decree of judicial dissolution under § 18-802 of this title. Check our Dormant Company Accounts FAQ’s You may want to consider choosing a dormant company route if: How to close a limited company through the liquidation process will depend on the status of the company.There are three types of liquidation services to close a limited company in Ireland: Members Voluntary Liquidation [MVL] – a members voluntary liquidation may be used to close a limited company when the company is deemed to be solvent – i.e.