Forced dissolution and liquidation
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At Sundgaard, we have extensive experience with all aspects of insolvency, bankruptcy and financial distress. We are qualified to help you or your business manage any financial challenges.
Forced dissolution and liquidation
At Sundgaard, we have extensive experience with all aspects of advising on the forced dissolution of a company. This is due, among other things, to the fact that attorney-at-law Gunvor Sundgaard Happe is one of the Maritime and Commercial Court’s permanent trustees. Based on this position we are some the most experienced liquidators in the country.
Should your company go into unwanted forced dissolution, it is important that you contact a specialist quickly. This could be your accountant, your auditor or your attorney.
It is the Danish Business Authority that request for the forced dissolution of companies through the Bankruptcy Court. The Bankruptcy Court will then review the request and in most cases appoint a liquidator.
Until the Bankruptcy Court appoints a liquidator, it is a fairly simple procedure to reverse to proceeding. Once a liquidator is appointed, you should expect significantly more costs, since the liquidator will have to approve any and all attempts of reversal.
The liquidator will act as the management while appointed, while they also carry the risk of management liability.
If you company is undergoing forced dissolution, and you do not wish the company to be terminated or potentially bankrupted, you have the following options.
The company can:
- Request for reversal and resumption
- Go ahead with a solvent liquidation if possible
- Merge with another legal entity
If the forced dissolution is unavoidable and the company is in fact insolvent, the liquidator will file a petition for bankruptcy and liquidate the company through a bankruptcy proceeding.
