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Asset Liquidation: A Complete Stepwise Process & its Advantages

Asset Liquidation: A Complete Stepwise Process & its Advantages
March 15, 2019
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March 15, 2019

Asset Liquidation: A Complete Stepwise Process & its Advantages

 

Increasing wealth by earning money, investing it & buying assets is the life goal of millions who are indulged in any profession. In this race of being successful in life, several ups & down occur when you feel the need for help by someone. If it about moral support, your friends and family members are always there. However, the same thing is not applicable when it comes to the money factor. Most of the closest people in your life will also refuse to help financially because of their vested interest or poor financial condition. However, your savings of good days can help with this concern. The agencies of assets management in Reo are expert in providing adequate financial aid by liquidating your assets. They evaluate all tangible & intangible assets to conclude an amount which is payable at the current times.

 

What is asset liquidation?

Whether your business is struggling with a financial problem or it is a personal matter, the asset liquidation companies can help in all conditions. If all other options are already closed because of the rising debt, the only remaining alternative is assets liquidation. You can liquidate them fully or partially depending on the current situation. Basically, the term liquidation means turning a tangible or intangible asset into monetary form. For this purpose, you need help from an assets management company in Reo. They understand the situation of a person who is struggling. Thus, try to consolidate the property with the best possible value. They use property valuation calculators approved by top financial institutions worldwide.

 

Types of asset liquidations

 

  • Compulsory liquidation

The compulsory liquidation means legal orders by the court to the owner for liquidating the assets. It happens when creditors file case & prove that the debtor is not able to pay to pack the given amount. In this situation, the court order to liquidate assets of the same value. It can be the land property, building structure, vehicles or any other valuable thing belongs to the debtor.

 

  • Voluntary liquidation by members

This is the situation when members of an organization agree to liquidate their assets voluntarily. Without any external influence by legal bodies, they agree mutually to liquify the assets with the help of a property management company in Reo.

 

  • Voluntary liquidation by creditors

If the company structure is insolvent and members don’t have liquidation right, the creditors can enforce the execution process. This is also a voluntary liquidation process, thus there is no court involvement.

 

A process of liquidating the assets

  1. The directors of a company inform creditors regarding the liquidation of assets at least 7 days before their meeting.
  2. In this meeting, all authorized people gather and agree to execute a liquidation process with the help of third-party property management solutions in Reo.
  3. The directors prepare all essential statements to present in the meeting. They inform all creditors regarding the decision.
  4. Once the resolution is passed by all board of directors, it is represented in front of the creditor’s is that they satisfy with the resolution.
  5. The hired property management company then they start the liquidation process by evaluating the value of every asset as per the rates of current times.

 

Advantages

  1. It protects the stakeholders form personal liabilities
  2. Prevent from any legal notice
  3. Peace of mind

 

The above points will surely help you in understanding property liquidation and its significance for debtors.

 

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