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GOVERNMENT GAZETTE OF REPUBLIC OF NAMIBIA N$8.00WINDHOEK 20 January 2023 No. 8011Advertisements PROCEDURE FOR ADVERTISING IN THE GOVERNMENT GAZETTE OF THE REPUBLIC OF NAMIBIA1. The Government Gazette

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How to fill out voluntary liquidations

01

Consult with a legal professional to ensure compliance with relevant laws and regulations.

02

Prepare a resolution to initiate the voluntary liquidation process.

03

Notify all stakeholders, including shareholders and creditors, of the decision to liquidate.

04

Appoint a liquidator to oversee the liquidation process.

05

Settle any outstanding debts and obligations of the company.

06

Distribute any remaining assets to the shareholders according to their ownership stake.

07

File the necessary documentation with the appropriate government agencies to officially close the company.

Who needs voluntary liquidations?

01

Businesses that are no longer viable or profitable may choose to undergo voluntary liquidation to wind up operations in an orderly manner.

02

Companies facing insolvency or financial difficulties may also opt for voluntary liquidation as a way to manage debts and distribute remaining assets fairly among stakeholders.

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What is voluntary liquidations?

Voluntary liquidation is the process by which a company chooses to wind up its operations and distribute its assets to stakeholders.

Who is required to file voluntary liquidations?

Shareholders or directors of a company can decide to initiate voluntary liquidations.

How to fill out voluntary liquidations?

To fill out voluntary liquidations, a company must follow the legal procedures outlined in the relevant legislation and submit the necessary documentation.

What is the purpose of voluntary liquidations?

The purpose of voluntary liquidations is to orderly wind up the affairs of a company and distribute its assets to stakeholders.

What information must be reported on voluntary liquidations?

Information such as financial statements, list of creditors, asset valuations, and proposed distribution plans must be reported on voluntary liquidations.

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