{"id":32509,"date":"2023-11-15T11:37:59","date_gmt":"2023-11-15T10:37:59","guid":{"rendered":"https:\/\/fidulex.ch\/?p=32509"},"modified":"2025-01-24T15:33:46","modified_gmt":"2025-01-24T14:33:46","slug":"how-to-close-your-company","status":"publish","type":"post","link":"https:\/\/fidulex.ch\/en\/how-to-close-your-company\/","title":{"rendered":"Liquidation: How to close your company (SA or S\u00e0rl)"},"content":{"rendered":"
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Reasons for closing a company<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The dissolution of a company<\/strong> in Switzerland is a process regulated by various articles of the Swiss Code of Obligations (CO)<\/a>which provides a structured legal framework for the definitive closure of business entities. You will find below the causes linked to the closure of a company.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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- Statutory dissolution<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Articles of Association of a public limited company may provide for its dissolution following the occurrence of certain objectively ascertainable events.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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- Dissolution by decision of the Annual General Meeting<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Dissolution may be decided by the company's Annual General Meeting (AGM) at any time.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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- Dissolution following bankruptcy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The opening of bankruptcy proceedings is a cause of dissolution. These proceedings may be initiated by creditors<\/strong> or the company itself<\/strong>in accordance with articles 166 and 190 of the Debt Collection and Bankruptcy Act<\/a> (LP), and in the event of overindebtedness under article 725b CO<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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- Dissolution for just cause<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A court order may dissolve a public limited company if shareholders representing at least 10%<\/strong> of capital or votes require dissolution for just cause.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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- Other cases provided for by law<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A number of other legal grounds may lead to the dissolution of a public limited company, such as organizational deficiencies<\/strong> (art. 731b CO<\/a>), and structural defects<\/strong> (art. 643, para. 3, CO<\/a>), or goals immoral<\/strong> or illegal<\/strong> (art. 57, para. 3, CC<\/a>).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Steps in liquidating a company<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Dissolving a company in Switzerland is a rigorous and structured process, governed by a set of rules and regulations. legal steps<\/strong> and administrative procedures. The aim of this procedure is to ensure an orderly and fair closure of the company, while protecting the interests of the shareholders. shareholders<\/strong>and creditors<\/strong> and others stakeholders<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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1. decision to dissolve: Extraordinary General Meeting<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The dissolution of a company in Switzerland begins with a decision taken at a shareholders' meeting. Extraordinary General Meeting<\/strong>However, it requires the intervention of a notary, as it must be validated by an authenticated deed.<\/p>

This process requires a shareholder vote<\/strong> (SA) or associates<\/strong> (S\u00e0rl) collecting at least the two-thirds of the votes<\/strong> and the absolute majority of share capital<\/strong> for which voting rights can be exercised is required to approve the dissolution.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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2. Appointment of liquidator <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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After the decision to dissolve, authenticated by a notary at the time of Extraordinary General Meeting<\/strong>shareholders or associates must appoint a liquidator<\/strong> to manage the company's closure.<\/p>

One of the liquidators must be resident in Switzerland and authorized to represent the company.<\/p>

In case of legal dissolution<\/strong>the court appoints the liquidators.<\/p>

In a bankruptcy context<\/strong>The liquidation is carried out by the bankruptcy administration, in accordance with the applicable rules. The company's directors retain a limited power of representation, necessary for the liquidation.<\/p>

The General Meeting may dismiss the liquidators<\/strong> at any time, and a court<\/strong> may intervene to dismiss or appoint new liquidators at the justified request of a shareholder.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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3. Entry in the Commercial Register<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The first step in the process of winding up a company in Switzerland is to register its dissolution in the Commercial Register. At the Extraordinary General Meeting where the dissolution is decided, the company requests the addition of \"in liquidation<\/strong> to its corporate name.<\/p>

This registration is used to inform the public<\/strong> the status of the company in liquidation. It is fundamental to ensuring transparency and communication with shareholders, associates and all other stakeholders.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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4. Official announcement, calls to creditors<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The liquidators in charge must publish a call to creditors<\/strong> three times<\/strong><\/span> in the Swiss Official Gazette of Commerce<\/strong><\/a> (FOSC) to inform of the company's dissolution. This compulsory publication can also be made on three consecutive days<\/strong>.<\/p>

This step ensures that all creditors, whether known or unknown, are included. informed of the liquidation<\/strong> and can claim the sums due before the company is dissolved.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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5. Liquidation balance sheet<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The liquidation balance sheet<\/strong> is a central element in the liquidation of a company<\/strong>drawn up by the liquidators. This document includes various essential aspects:<\/p>

  1. Property inventory :<\/strong> The liquidators draw up an exhaustive inventory of the company's assets. These include real estate, equipment, inventories, receivables and cash.<\/li>
  2. Valuation of assets and liabilities :<\/strong> Assets are valued and liabilities determined according to their liquidation value (market value<\/strong>). This stage may require the involvement of experts such as evaluators<\/strong> real estate or accountants<\/strong>.<\/li>
  3. Debt management :<\/strong> The liquidators manage the collection and payment of debts<\/strong>. This process includes the settlement of receivables from suppliers, creditors and other creditors. tax obligations<\/strong> and resolving disputes<\/strong> potential.<\/li>
  4. Debt claims :<\/strong> The liquidation balance sheet lists claims for debts arising from announcements published in the Swiss Official Gazette of Commerce (SOGC).<\/li>
  5. Intermediate balance sheets :<\/strong> If necessary, interim reports are drawn up to monitor the progress of the liquidation.<\/li><\/ol>

    The liquidation balance sheet provides a precise overview of the financial situation<\/strong> of the company at the time of its liquidation.<\/p>

    It plays a crucial role in determining the distribution of assets remaining after debts have been paid in full.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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    6. Realization of assets (liquidation)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    At this stage, liquidators play a crucial role. Their mission is to finalize day-to-day business<\/strong>of liquidate assets<\/strong> and settle debts<\/strong>This process can take several years. This process can take several years.<\/p>

    The main tasks of the liquidators include :<\/p>