Time Limits On Voluntary LLC Liquidation Now In Force
Under the new rule, the maximum period for voluntary liquidations is one year. The participants in the company or decision making body that made the decision on liquidation will determine the period within that limit. It can be extended by court ruling, but not by more than six months.
If the deadline for liquidation expires or the participants cancel their decision, it will be possible to take a second decision only after at least six months pass from the date of entering the information about the rescinded decision or missed deadline in the Unified State Register of Legal Entities.
Currently, there are no such restrictions listed in the Law on LLCs.
Translated by Alinga Consulting Group.
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