Company winding up (Urgent)

2009-12-13 2:45 am

1. If I would like to wind-up a limited company, are there any expenses compulsory and restricted under Company Ordinances?

2. If the company is under the processes of widing up, whether it is still appropiate to distrubute salary, dividend and bonus to directors/shareholders?

Thanks every brother.

更新1:

1. It is voluntary liquidation, any expenses compulsory or restricted under Company Ordinances? 2. "Salary must ............................as it can amount to fraud." Where can I find the Law to prove that it is potentially subject to fraud?

回答 (2)

用戶18354

2009-12-20 2:53 am

無最佳解答

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Maverick

2009-12-14 5:38 am

1. It depends whether you are in voluntary liquidation(ie. the company is solvent) or a compulsory liquidation (ie. unable to meet its debts). Debts are paid according to priority and assets pledged must be first paid to the creditors concerned. Staff are then paid, government fees, ordinary creditors and lastly shareholders. Liquidator's cost must be paid and all announcements on liquidation must be first paid out of assets.
2. Salary must be first paid but only in accordance to labour law. It would be illegal to distribute extraordinary salaries and bonus to management prior to liquidation as it can amount to fraud. Dividend will only be paid after all other creditors are being satisfied.
For reference only.

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