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Liquidation of JSC, OJSC (PJSC)

Liquidation of an Open Joint-Stock Company

Liquidation of an OJSC is the most acceptable way to terminate the activities of a JSC. Such a procedure must be carried out in compliance with all the requirements of the legislation concerning the termination of legal entities, and especially joint-stock companies (JSC).

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from 50 usd
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Liquidationfrom 100 USD
Liquidation (express)from 250 USD
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To begin, we will clarify the correspondence of the abbreviations.

In 2011, amendments to the Law of Ukraine “On Joint Stock Companies” came into force, which require ZAO (closed joint-stock company) and OAO (open joint-stock company) to bring the type of their company into compliance with the norms of legislation and international standards. Now a joint-stock company may exist in the form of ChAO (private joint-stock company) and PAO (public joint-stock company). In the future, the use of the abbreviation OAO will overlap with PAO.

The liquidation procedure provides for the following sequential actions by the joint-stock company:

  1. Holding a general meeting at which the question of termination of the JSC is decided, a liquidation commission is elected, and the procedure of actions is approved. It is the liquidation commission that must inform all shareholders whether the company is a participant in another legal entity, as well as disclose whether it has created other enterprises, including subsidiaries. It should be noted that the commission has a fairly wide range of responsibilities concerning all subsequent stages. It handles all issues or organizes their proper execution.
  2. Closing bank accounts except for one that is used to settle accounts with creditors.
  3. Inventory of the company’s assets, its branches, representative offices and separate subdivisions.
  4. Carrying out an independent valuation of assets.
  5. Dismissal of employees.
  6. Returning seals, stamps, and licenses to state authorities.
  7. Submission of all necessary documents to the fiscal service, the pension fund, and social insurance funds.
  8. Preparation of an interim liquidation balance sheet.
  9. Sale of the company’s assets (if necessary).
  10. Transfer of documents to an archival institution.
  11. Submission to the state registrar of a package of documents for making the corresponding entry on the termination of the company.

This procedure is relevant if a voluntary liquidation of the OJSC is carried out.

PJSC liquidation services by the law firm “Nakaz”

A joint-stock company is a complex organizational and legal form of a legal entity that requires considerable financial efforts to maintain: payment for the maintenance of shares, for publishing notices in the media, and for the provision of NDU services.

Moreover, the economic crisis not only limits business development but dictates the conditions for its existence, so joint-stock companies are forced to cease operations.

Practice shows that independent attempts to liquidate a JSC only prolong the process and require additional costs. As a result, this leads to questions from state authorities.

Our specialists know the procedure well, are ready to answer all your questions and carry it out for you as quickly as possible.

Our services include:

  • consultations on issues related to the termination of a joint-stock company;
  • assistance in holding the general meeting;
  • assistance in drafting documents for the liquidation of the company;
  • submission of documents to the fiscal service, the pension fund, and social insurance funds;
  • preparation and submission of a package of documents to the state registrar.

When the liquidation is performed by our specialists on a turnkey basis, you won’t have to worry about endless document delays, since our lawyers are well acquainted with the structure of state bodies and are always result-oriented.

To order the service you need to:

  • send us by e-mail the information about the joint-stock company (the list of documents will be determined by our specialist);
  • provide powers for the liquidation of the OJSC (PJSC) – sign a power of attorney at a notary.

Legislation:

Law of Ukraine “On Business Companies” of 19.09.1991 No1576-XII;

Law of Ukraine “On State Registration of Legal Entities and Individual Entrepreneurs” of 15.05.2003 No 755-IV.

Nakaz UA
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