Publishing the liquidation notice
Do we need to publish that our company is in liquidation?
The situation
Notice of liquidation is published in the Official Gazette and local newspapers to inform creditors.
The law
- Commercial Companies Law: dissolution and liquidation: Partners resolve to dissolve, appoint a liquidator, publish notice, settle debts, then the CR is cancelled
What it means for you
Publication tells creditors the company is closing and gives them the chance to claim. The liquidator should not distribute surplus before the claim period ends. A second notice is published when the company is finally closed.
What to do
- Draft the notice.
- Publish in the Gazette and a newspaper.
- Collect creditor claims.
- Proceed after the claim period.
The creditor claim period was not confirmed in sources reviewed.
We can do this for youVoluntary liquidation and CR cancellation: BHD 1,500