Many things can happen in life that may result in the need to close your business permanently, such as death, divorce, insolvency, or retirement. Our firm’s team of business attorneys is able to guide you through the dissolution process to ensure that all requirements are met in order to close the business as efficiently as possible.
What are the procedures for a dissolution?
Depending on the type of business entities, different procedures would be required.
What if the business is being forced into a dissolution?
You may also be facing a situation where it is not your choice for a dissolution of the business, but you are forced into dissolution. Involuntary dissolutions can come from:
- Management deadlock - when partners or directors in a company are unable to manage the company.
- Bankruptcy - when the company is forced into bankruptcy by creditors’ action.
- Shareholder disputes
What to do if you received a Certificate of Dissolution?
If you have received a certificate of dissolution from the North Carolina Secretary of State, this could mean many things. Often the cause is a lack of annual filings, or payment of fees, taxes or penalties. This is also referred to as an administrative dissolution. Our attorneys can assess your situation and determine what steps that you need to take in order to stop the administrative dissolution, or have it reversed if it has already occurred.
Regardless of how you arrived at dissolution of your company, our team of attorneys is available to help. If you need assistance in dissolving your business or help with an involuntary dissolution, contact us for a consultation. Our firm’s business attorneys have experience in a range of other business disciplines including tax, real estate, employment, worker’s compensation, bankruptcy, asset sales and intellectual property law. Call our business law team at 336-379-1390 to schedule your consultation today.
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