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Possibilities to liquidate the company in Lithuanian legal regulation

The COVID – 19 has affected all walks of life and there is no doubt that this effect will continue long after the end of the pandemic. Unfortunately, the restrictions imposed by the countries as a result of the virus and the resulting slowdown in the economy will make it impossible to avoid negative consequences for businesses. It is likely that some of the companies operating in the various sectors will lose or significantly lose market share, which may lead to losses in the long run leading to late settlements with creditors. As a result, insolvency proceedings will have to be initiated against many of them, which could lead to restructuring or even bankruptcy. On the other hand, the legal regulation currently in force in Lithuania allows to anticipate such a scenario of events and to “painlessly” terminate the company’s activities after the shareholders have decided to liquidate it. More about the liquidation of the company read in Lithuanian…