Winding Up, Strike Off & Corporate Rescue Mechanisms Eguide - ipad mockup
A LPP LAW FREE RESOURCE : E-GUIDES

Legal Guide to Winding Up, Strike Off & Corporate Rescue Mechanisms

This E-Guide provides an overview of winding up, striking off of a company/business as well as mechanism on rescuing such company/business.

Topics in the e-Guide

  • What If I Have to Shut Down My Business?
  • Company & Winding Up
  • Winding Up: The Role of a Liquidator
  • Company & Striking Off
  • Business or Partnership
  • Corporate Rescue Mechanism

Abstract

The global Coronavirus pandemic has affected many businesses and many are still wondering what recovery could look like, despite the development of new vaccines.

As a result of partial and full lockdown imposed by Government, many companies and businesses have suffered losses and some may even have to shut down their business entirely.

This E-Guide provides an overview of winding up, striking off of a company/business as well as mechanism on rescuing such company/business.

Please note that the legal position may change in the near future as the situation remains fluid.

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Responsibilities of Executor:

  • Apply for and extract the grant of probate.
  • Make arrangements for the funeral of the deceased.
  • Collect and make an accurate inventory of the deceased’s assets.
  • Settling the debts and obligations of the deceased.
  • Distributing the assets.

Note for Digital Executor:
If you wish to leave your digital assets to certain people in your Will, there are important steps that need to be taken to ensure that your wishes can be carried out:

  • Keep a note of specific instructions on how to access your username and password of your digital asset.
  • You are advised to store these private and confidential information in a USB stick, password management tool or write them down.
  • Please inform your executor or a trusted person of the whereabouts of the tools so that they will have access to your digital asset.
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