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2.1 Liquidation by bankruptcy

In a bankruptcy procedure, there is also a liquidation of the company. Instead of a “liquidator,” the court will appoint a trustee who is responsible for the effective liquidation of the company. He will have to ensure that assets are realized to the extent possible, so that creditors can be paid.

The application for bankruptcy often offers a (cheaper) alternative to the procedure of judicial dissolution and liquidation.

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