Provisional Liquidation

Provisional liquidation is a temporary legal process where a company facing financial difficulties appoints a provisional liquidator. This individual manages the company’s assets while assessing its situation, protecting it from creditors, and determining whether it can be saved or should proceed to full liquidation. The provisional liquidator ensures that the company's affairs are handled properly during this period. This step helps to maintain order and transparency, allowing for an informed decision on the company's future, whether it involves restructuring, selling assets, or permanently closing the business.