{"id":69271,"date":"2018-09-10T10:02:33","date_gmt":"2018-09-10T08:02:33","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/liquidation-judiciaire-2\/"},"modified":"2026-01-14T23:08:35","modified_gmt":"2026-01-14T22:08:35","slug":"liquidation-judiciaire-2","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/liquidation-judiciaire-2\/","title":{"rendered":"Compulsory liquidation"},"content":{"rendered":"\n<p><strong>Compulsory liquidation<\/strong> is a court-based procedure where the court rules that a company is in a <a href=\"https:\/\/tcm.be\/en\/suspension-of-payments\/\">suspension of payments<\/a> situation as well as being beyond <strong>rescue<\/strong> .<br><br>Generally, companies are created for an indefinite period. However, they can be dissolved:<br><br>1) once the period stated in its articles of association has been reached;<br><br>2) by court order for legitimate reasons;<br><br>3) voluntarily, by shareholders\u2019 general meeting (dissolution).<br><br>If the shareholders decide to dissolve the company, it will be <strong>wound up<\/strong> . This procedure is voluntary, as opposed to <a href=\"https:\/\/tcm.be\/en\/bankruptcy\/\">bankruptcy<\/a>, which is imposed on the company when it is in a <a href=\"https:\/\/tcm.be\/en\/suspension-of-payments\/\">suspension of payments<\/a> and <strong>credit weakness<\/strong> situation. A <strong>provisional<\/strong> <strong>liquidator <\/strong>will be appointed by the company (and confirmed by the commercial court) in order to<strong>realise the assets of the company<\/strong>, <strong>settle any debts and charges<\/strong> that it might possess and, <strong>finally, to distribute the net assets between the partners or shareholders<\/strong> on completion of the liquidation. The commercial court will oversee and verify this procedure.<br><br>Updated 10\/09\/2018<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69271","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}