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Asset liquidation and business dissolution

On Behalf of | Jun 12, 2023 | Comprehensive Business Law

While the process of dissolving a business can be complex, there may be a variety of scenarios in which all parties involved may feel this is the most preferable path. One of the most complex aspects of this process could involve the topic of asset liquidation. With numerous factors to address and a great deal at stake, companies in New York that are preparing to initiate the business dissolution process might benefit from seeking advice in creating a thorough strategy for asset liquidation. 

Liquidating assets 

There may be numerous factors to address regarding the process of liquidating assets when dissolving a company. Performing a thorough valuation of asset values may be integral to preparing for this process, but it can also be complex at times. Companies that face such a situation may also benefit from creating a thorough list of financial obligations, as using proceeds from asset sales to fulfill obligations may be integral to staving off unfavorable results.  

Fulfilling obligations to creditors might not be the only topic to address, as the dissolution of a business could also lead to job loss. Companies may also benefit from being thorough when evaluating employee contracts to address factors such as unpaid wages and benefits owed to former employees. Owners or shareholders who wish to promote compliance with obligations while maximizing their returns following the dissolution process may benefit from seeking guidance in navigating this process.  

Dissolving a business 

Asset liquidation is just one example of a complex aspect of dissolving a business and those who wish to take a thorough approach to this process could benefit from retaining the services of an attorney for assistance. An attorney can provide a client in New York with advice on every topic to consider and step to take when preparing for what comes next. Seeking such guidance could prove essential to helping prepare to mitigate risks and protect one’s interests during every stage of the dissolution process. 


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