Liquidation order against a Company-Liquidation order against a Company-【移投策】

Liquidation order against a Company

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2017-07-28

Once a company is served with a demand notice to pay any of its outstanding debts and fails to do so, then the creditor could apply to the relevant court for the issuance of a liquidation order against that Company. Provided that the application is successful, the Court can issue the liquidation order during a short trial where the debtor company is unable to substantially satisfy the claim especially since the refusal to pay the specified funds depending on each case, is a valid ground to grant the liquidation order.  

 

The application to be filed as well as the supporting affidavit to request an order for the liquidation of the company include amongst others (i) demand notice of payment; (ii) the certification that the company has been served; (iii) a statement of account stating the debits and credits signed by the debtor company acknowledging the debt and/or by invoices issued and signed related to the account and the (iv) relevant publications in the official Gazette and any daily newspaper. 


For further information on this topic please contact Ms. Nada Starovlah (nstarovlah@pittaslegal.com) at SOTERIS PITTAS & CO LLC, by telephone (+357 25 028460) or by fax (+357 25 028461)

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