Liquidating a small corporation scent fetish women dating sites

In these cases, there does not need to be an actual liquidation or bankruptcy of a company.

While its exact legal status varies somewhat from jurisdiction to jurisdiction, the most important aspect of a corporation is limited liability.In so doing, the liquidator ranks all creditors and shareholders and distribute funds accordingly.The use of specific liquidation preference dispositions is popular when venture capital firms invest in startup companies.A key point about statutory conversions is that all these effects occur automatically by operation of law rather than through separate, formal agreements regarding exchanges of stock and transfers of assets and liabilities, and without additional filings with the secretary of state.Statutory conversion is usually the quickest and most inexpensive way to convert from a corporation to an LLC.