The company liquidation is the way toward closing an LLC company, canceling the trade license and distributing the organization assets and properties. In other words, after liquidation, the organization will no longer exist. Company Liquidation process may differ based on the legal types of the UAE company in terms of the documentation and procedures. According to UAE laws, rules and regulation there are 2 kinds of Company Liquidation.
The first category we can describe like, all shareholders agree and decide to organization voluntary liquidator. the main purpose of wind up the organization is no money has to pay for creditors because of the loss of Business, no profit.
Compulsory liquidation implies wind up the company on court order and Distribute company assets to the creditors and pay Debt, or Pay contributor dependent on the priority of claims.