{"id":55,"date":"2017-02-17T07:37:47","date_gmt":"2017-02-17T06:37:47","guid":{"rendered":"http:\/\/psc.hr\/en\/?page_id=55"},"modified":"2020-12-11T16:38:01","modified_gmt":"2020-12-11T15:38:01","slug":"company-closure","status":"publish","type":"page","link":"https:\/\/psc.hr\/en\/company-closure\/","title":{"rendered":"Closing a company"},"content":{"rendered":"<p><a href=\"https:\/\/europa.eu\/youreurope\/index.htm#en\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6351 size-medium alignright\" src=\"http:\/\/psc.hr\/wp-content\/uploads\/2020\/11\/SDG-logo-300x127.jpg\" alt=\"Your Europe\" width=\"300\" height=\"127\" \/><\/a><\/p>\n<p>A company may close, i.e. cease to exist, by its deletion from the company register (at the competent court). This may be preceded by liquidation or bankruptcy proceedings.<\/p>\n<p>Liquidation is voluntary and is carried out when the company\u2019s assets are sufficient to cover all of the company\u2019s liabilities.<\/p>\n<p>Bankruptcy proceedings are carried out when there are reasons for bankruptcy, or after the company has become insolvent or after it has been established that its liabilities exceed its assets.<\/p>\n<p>If liquidation is instituted and it is established that the company does not have sufficient assets to cover all of its liabilities after all, the proceedings continue as in the event of a bankruptcy.<\/p>\n<p>Although the term \u201cstandstill\u201d is frequently used for a non-operating company, in such an event the company still exists as a legal entity and is subject to all the regulations and obligations arising from its existence.<\/p>\n<p>A company may cease to exist by the force of law and pursuant to a special court decision if it fails to submit annual financial statements for three consecutive years.<\/p>\n<p>Updated: 30 November 2020<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A company may close, i.e. cease to exist, by its deletion from the company register (at the competent court). This may be preceded by liquidation or bankruptcy proceedings. Liquidation is voluntary and is carried out when the company\u2019s assets are sufficient to cover all of the company\u2019s liabilities. Bankruptcy proceedings are carried out when there [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Closing a company - Point of Single Contact<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/psc.hr\/en\/company-closure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Closing a company - Point of Single Contact\" \/>\n<meta property=\"og:description\" content=\"A company may close, i.e. cease to exist, by its deletion from the company register (at the competent court). 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