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The end of liquidation and professional recovery: what are the outcomes?
The judicial liquidation of your business is coming to an end, but the closure of the proceedings does not always mean the same thing, depending on your situation. Closure for lack of assets, closure after full payment of creditors, professional recovery for sole traders with no assets: each outcome has different effects on your assets and your professional future. Here's how to understand these mechanisms.
Judicial liquidation: consequences for creditors and realisation of assets
The opening of a judicial liquidation against your debtor does not mean that you will get back what you owe: creditors are subject to strict collective discipline, with deadlines to be met and an order of payment that ultimately determines what each will receive. Understanding the mechanism for realising assets and classifying claims is essential if you are to maximise your chances of recovery.
Collective proceedingsJudicial liquidation: understanding the procedure for selling a company's assets
Your company can no longer meet its debts and reorganisation is out of the question. A judicial liquidation is then opened to sell the assets and repay the creditors in a strictly defined order. Knowing about this procedure means anticipating your rights and obligations before the court rules.
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