{"id":185,"date":"2023-05-09T14:19:55","date_gmt":"2023-05-09T14:19:55","guid":{"rendered":"https:\/\/companyformationmontenegro.com\/?p=185"},"modified":"2023-05-09T14:19:58","modified_gmt":"2023-05-09T14:19:58","slug":"company-liquidation-in-montenegro","status":"publish","type":"post","link":"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/","title":{"rendered":"Company Liquidation in Montenegro"},"content":{"rendered":"\n<p><strong>Company liquidation in Montenegro<\/strong>&nbsp;is the cessation of business operations. The process is covered by the&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/company-act-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Law on Business Organization<\/strong><\/a>, the Law on Bankruptcy and Insolvency of Insurance Companies, the Business Organization Insolvency Law, and the Law on Bank Bankruptcy and Liquidation Proceedings. The law which governs will depend on the<strong>&nbsp;type of liquidation conducted<\/strong>&nbsp;and&nbsp;<strong>the kind of company liquidated<\/strong>. Our specialists in&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>company formation in Montenegro<\/strong><\/a>&nbsp;can&nbsp;<strong>conduct a company liquidation procedure<\/strong>&nbsp;for you.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/#liquidation-under-the-law-on-business-organization\" title=\"Liquidation under the Law on Business Organization\">Liquidation under the Law on Business Organization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/#law-on-bankruptcy-and-insolvency-of-insurance-companies-in-montenegro\" title=\"Law on Bankruptcy and Insolvency of Insurance Companies in Montenegro\">Law on Bankruptcy and Insolvency of Insurance Companies in Montenegro<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/#montenegro-law-on-bank-bankruptcy-and-liquidation-proceedings\" title=\"Montenegro Law on Bank Bankruptcy and Liquidation Proceedings\">Montenegro Law on Bank Bankruptcy and Liquidation Proceedings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/#business-organization-insolvency-law-in-montenegro\" title=\"Business Organization Insolvency Law in Montenegro\">Business Organization Insolvency Law in Montenegro<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"liquidation-under-the-law-on-business-organization\"><\/span><strong>Liquidation under the Law on Business Organization<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Under the Law on Business Organization, a company may be liquidated&nbsp;voluntarily. Companies can conduct&nbsp;<strong>voluntary liquidation in Montenegro<\/strong>&nbsp;as long as the financial resources of the business exceed its debts. This means that the company is able to pay off all its debts using its existing assets. The articles of association must provide for<strong>&nbsp;voluntary liquidation&nbsp;<\/strong>after the happening of a specified event or after a certain number of years since the company was formed. The decision can also be made through a meeting of the shareholders. Our&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>experts&nbsp;<\/strong><\/a>in&nbsp;<strong>Montenegro company formation<\/strong>&nbsp;can guide you through this process<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"law-on-bankruptcy-and-insolvency-of-insurance-companies-in-montenegro\"><\/span><strong>Law on Bankruptcy and Insolvency of Insurance Companies in Montenegro<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/open-a-d.o.o-in-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>open a company in Montenegro<\/strong><\/a>&nbsp;engaged in the insurance business, the Law on Bankruptcy and Insolvency of Insurance Companies governs the liquidation process.&nbsp;<strong>Company liquidation in Montenegro<\/strong>&nbsp;for insurance companies is commenced when the Insurance Supervision Agency of Montenegro has assessed that the business is no longer improving and has not complied with the solvency requirement or has not performed all its obligations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"montenegro-law-on-bank-bankruptcy-and-liquidation-proceedings\"><\/span><strong>Montenegro Law on Bank Bankruptcy and Liquidation Proceedings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;This law specifically governs the&nbsp;<strong>liquidation of banks in Montenegro<\/strong>. The body in charge of&nbsp;<strong>liquidating banks<\/strong>&nbsp;is the Central Bank of Montenegro. Before the actual liquidation process, the bank shall first be rehabilitated. This means that certain measures are imposed and adopted to try to save the bank from insolvency. If the bank is still unable to remain solvent after the rehabilitation process, liquidation commences.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"business-organization-insolvency-law-in-montenegro\"><\/span><strong>Business Organization Insolvency Law in Montenegro<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you&nbsp;<strong>open a company in Montenegro<\/strong>&nbsp;and it does not gain as much profit as you hoped it would, you have the option of liquidating it. The process of&nbsp;<strong>company liquidation in Montenegro&nbsp;<\/strong>under the Business Organization Insolvency Law in Montenegro involves the jurisdiction of the courts. This usually happens when the company can no longer pay its debts. A petition has to be filed with the&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/central-registry-of-montenegro\"><strong>Commercial Court<\/strong><\/a>&nbsp;by either the debtor or the creditor.<\/p>\n\n\n\n<p>If you need assistance in the&nbsp;<strong>liquidation of your company in Montenegro<\/strong>, please do not hesitate to&nbsp;<a href=\"https:\/\/www.companyformationmontenegro.com\/contact\"><strong>contact us<\/strong><\/a>. Our experts in&nbsp;<strong>company formation in Montenegro<\/strong>&nbsp;have handled many&nbsp;<strong>liquidation cases<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company liquidation in Montenegro&nbsp;is the cessation of business operations. The process is covered by the&nbsp;Law on Business Organization, the Law on Bankruptcy and Insolvency of Insurance Companies, the Business Organization Insolvency Law, and the Law on Bank Bankruptcy and Liquidation Proceedings. The law which governs will depend on the&nbsp;type of liquidation conducted&nbsp;and&nbsp;the kind of company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8,63,65,66,9,64,62],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Company Liquidation in Montenegro<\/title>\n<meta name=\"description\" content=\"If you need help in closing your business in Montenegro our experts in company formation in Montenegro can assist in the liquidation process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/companyformationmontenegro.com\/company-liquidation-in-montenegro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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