Judicial Liquidation

A Judicial liquidation process is necessary when the company is on an irrecoverable point, due to an economic situation where the liability exceeds the asset in an irreversible way. Initiate a process of judicial liquidation brings certain effects, such as the dissolution of the legal person, the cessation of the corporate bodies and the inability to develop the corporate purpose, among others. The judicial liquidation process pretends the protection the company's creditors, through the reassignment of its resources and get maximum benefit of the debtor's patrimony to pay the company's obligations.