As the legal representative of a company in liquidation, the Liquidator plays an important role. They maximize the funds available for creditors (lawful realisation), pay liabilities, and distribute the remaining assets to the shareholders.
All pending agreements are terminated, and registrations are continued or disolved as needed. It is the Liquidator's responsibility to carry out compliance tasks (tax returns, VAT returns, external reporting, etc.) within legal deadlines. As the central contact for different stakeholders during the proceedings ( i.e. Creditors, service providers, and liquidation auditors ) they have power of attorney over the company bank account and pay all liabilities. A list of all tasks performed is presented in a report that also includes the liquidation accounts.
The Liquidator's management duties are to perform due dilligence to ensure that taxes and all payments due or accrued, in Luxembourg or abroad, are duly paid.