Winding-up

A Company may wind-up for the following reasons:

  • Company has ceased business activities
  • Management deadlock
  • Oppression – shareholders dispute under Section 216 of the Singapore Companies Act
  • Minimise tax liabilities or maximise tax advantages for the group to which the company belongs
  • Breach of statutory provisions, including offences committed
  • Company acting outside its scope of activities

Voluntary Winding-up

Members’ Voluntary Liquidation

Two main conditions must be satisfied before a Company can be dissolved by way of Members’ Voluntary Winding Up pursuant to Section 290 of the Singapore Companies Act:

  1. The Company must be solvent, i.e. it has more assets than liabilities.
  2. At least 75% of the shareholders consent to this mode of dissolution.

Our services include:

  • Acting as the Liquidator and carrying out all the necessary duties from pre-liquidation to final dissolution of the Company

Creditors’ Voluntary Liquidation

If a company is insolvent, it can be dissolved by way of Creditors’ Voluntary Winding Up pursuant to Section 290 of the Singapore Companies Act, provided at least 75% of the shareholders consent.

Our services include:

  • Acting as the Liquidator and carrying out all the necessary duties from pre-liquidation to final dissolution of the Company

Compulsory Winding Up

Section 253 of the Singapore Companies Act provides that a company may be wound up on the petition of the company itself or any creditor, including a contingent or prospective creditor of the company.

Our services include:

  • Acting as the Liquidator and carrying out all the necessary duties from pre-liquidation to final dissolution of the Company
~ RAFFLES MEANS PEACE OF MIND ~