Liquidator of a Slovak company

Who can be a liquidator of a Slovak company? What are the requirements?

The liquidator of a Slovak company can be nominated by the shareholders or by the court.

Nominee for a position of a liquidator shall be at least 18 years old and shall have not any registration in his Criminal record.

The position of a liquidator is effective from the date of the nomination. From this moment the liquidator is acting on behalf of the company in liquidation and shall do all to sell the property of the company.

What if the shareholders want to nominate a liquidator who is a foreigner? Unless the nominee of the liquidator is EU resident he can be registered at the Commercial register as  a liquidator. In case the nominee is not the EU resident then this is not possible.

The liquidator of a Slovak company shall be a Slovak resident or at least EU resident.

What shall the liquidator do? The basic step of the liquidator is to publish an announcement to the Commercial Bulletin, where he asks all the possible creditors to apply their credits within the period of 90 days from the date of announcement.

The steps of liquidator could be divided into two phases such as start of liquidation and end of liquidation.

From the start of the liquidation the aim is to sell all the property  and finish the liquidation without any delay.

At the end of liquidation, the liquidator shall as the financial authorities such as Tax office, Magistrate, Customs office to issue approval to cancel the company. The liquidator shall terminate the bank accounts as well and make sure his documentation included balance sheet regarding the start of liquidation of the company and the termination of the liquidation.

When the bank accounts are closed and all the approval are issued, then the liquidator can submit the request to erase the company of the Commercial register.