Guidance

Voluntary liquidation by Court

A company may be liquidated by Court in the following cases:

• the company has decided by special resolution for its liquidation by the Court;
• the company failed to submit the statutory report to the Registrar of Companies or to convene the statutory meetings;
• the company does not commence its business within a year from its incorporation or suspends its business for a whole year;
• in case of a public company, the number of members is reduced below seven and either it declares inability to increase its number of members or is unable to increase within the timelimit given by the Court;
• the company is uanble to pay its debts;
• the Court is of the opinion that it is fair and in accordance with the law of leniency to dissolve the company.

Copy of the court order for liquidation must be sumbitted within three (3) working days from the issuance date to Insolvency Service.

For further information, please refer to the manual of the Insolvency Service.

Upon completion of the voluntary liquidation, the Registrar of Companies will proceed with the relevant publication of strike off the company in the government’s gazette.