Simplified liquidation of a trading company

There are many cases in practice when a company, for various reasons relating to internal or external circumstances, must be dissolved and then according to the procedures deregistered from the commercial register containing the NBC (National Business Center). Occurring in these conditions, the partners/ shareholders of the company have to follow some procedural alternatives that are mainly provided in Law no. 9901/2008 "On traders and trading companies".

Most of the cases proposed by professionals, whether they are Lawyers or experts in the field of fiscal, is that of liquidation in the state of solvency (Article 190 of Law no. 9901) or otherwise known as liquidation by appointment liquidator and which is practically the classic way of liquidation of a company which requires more time and which is associated with increased costs. The duration and costs of liquidation with a liquidator make many companies take no action keeping their businesses in an inactive state but registered with the NBC.

Law no. 9901/2008 provides another way of liquidation which is not much used by professionals in this field and is entitled "simplified liquidation". It is regulated by Articles 204 et seq. of the law, while the procedures followed in this case (fulfilling some preconditions that have do mainly with non-liabilities to third parties and employees) are much faster, lower cost, and ultimately achieve the same result.

Legale Albania selects and practices for years - in the commercial sections of the Courts according to the territorial jurisdiction where the headquarters of the companies are located - successfully simplified liquidation as an alternative to the classic liquidation by responding to the request of the subjects for their quick deregistration at the NBC.