Voluntary liquidation
The dissolution and liquidation of a company decided by its shareholders, outside insolvency, with payment of the creditors and distribution of the remaining assets.
Voluntary liquidation is the procedure through which the shareholders decide the orderly closure of a solvent company. The appointed liquidator takes stock of the estate, collects the receivables, pays the company's debts and distributes the remaining assets to the shareholders.
The procedure ends with the company being struck off the trade register, without the involvement of the insolvency court, as long as the company can pay its debts in full.