What are the duties of a liquidator?

When taking over their office, the liquidators have to draw up a balance sheet on the date of dissolution.

When taking over their office, the liquidators have to draw up a balance sheet on the date of dissolution so that the company's assets can be determined at the time of dissolution. In the case of a long-term GmbH liquidation, interim balance sheets must be drawn up annually.

Call for debt and clarification of over-indebtedness

Before the company's funds can be distributed to the shareholders, the company's creditors must be identified and satisfied. For this purpose, the liquidator has to notify the known creditors. For unknown creditors and those with an unknown place of residence, a three-time public debt call must be carried out in the Swiss Official Gazette of Commerce. If the articles of association provide for another form of publication, this must also be carried out.

The creditors can then register all claims up to the distribution of the company's assets to the shareholders.

If known creditors have failed to register their claims, the number of their claims must be deposited in court. A corresponding amount must also be deposited for the non-due and the disputed liabilities of the company, unless the creditors have provided equivalent security or the distribution of the company's assets is suspended until these liabilities have been fulfilled.

After the registration period has expired, the liquidators check the financial condition of the GmbH. As soon as over-indebtedness is established, the liquidators must notify the judge. This then pronounces bankruptcy.