Liquidation of Limited Companies

Abstract

Juristic persons especially company limited are established by registration. Meanwhile, closing down or go out of business shall be done upon registration as well. However, closing down does not have an effect on juristic person status instantly. The company may stop its operation and the directors lose power in managing the business. The law empower liquidator to be in charge of managing the company under the regulation and method as enacted in liquidation law for an advantage of share holders, creditor including third party who have association with the company to acknowledge the status of the company.