when sole shareholder decides to liquidate an EURL, opens a special phase known as the liquidation period. During this phase, the liquidator must perform several tasks. At its end, it must invite the sole shareholder to decide on the closure of the liquidation. Foundation-company-ricard compiled a dossier on the liquidation period of an EURL.
Once thesole partner decides to dissolve its EURL, a special period begins, known as liquidation period. During this phase, the liquidator must perform certain tasks. At its end, it must ask the sole partner to decide on the closing of the liquidation. Foundation-company-ricard prepared a dossier on the liquidation period of an EURL.
La liquidation of an EURL cannot continue longer than 3 . This period of time starts from the dissolution of the society. Generally, the date retained is that which appears in the minutes of the sole shareholder. As part of this procedure, the sole shareholder appoints a amicable liquidator who takes care of closing transactions. Its role is to effect asset sales and repay creditors.
During the dissolution of an EURL, the amicable liquidator must undertake two essential tasks : pay debts et write the final accounts of liquidation.
When appointed, the amicable liquidator must submit a investigation report to the sole partner. In this document, he indicates how much time he estimated to be necessary to carry out the actions of dissolution and provides a presentation of the accounting situation of the EURL.
Once he has become acquainted with the assets of the EURL, he must sell the assets (i.e. sell fixed assets and inventory) and, with the sum recovered, satisfy debts professional (debts to suppliers, the State or social organisations).
During the period of dissolution, the EURL still exists legally. This means that the liquidator must draw up annual accounts if the company finds itself closing an accounting period during its mission.
La liquidation ends when the friendly liquidator has asked thesole partner to decide on the closing of operations. In practice, after selling the assets and repaying the liabilities, the liquidator draws up a liquidation account which presents the result of the liquidation operations and of the liquidation itself. This account may end with a profit (if the sole partner receives a sum of money greater than his contribution) or a deficit (if the sole partner recovers nothing, or part of his contributions).
The sole partner must approve the liquidation accounts. At this time, after reading the EURL liquidation report, it must also give a discharge to the liquidator for his management, unload it officially of his mandate and definitely end liquidation. At this stage, the EURL can then set up and file a deregistration file with the registry of the commercial court and thus put an end to the company.
Note that the above information only applies to a amicable liquidation. This assumes that the EURL can honor its debts. Otherwise, filing for bankruptcy is required.
To read also on the subject of the closure of an EURL:
