Business Liquidation

At Munawwar & Co, we provide comprehensive legal support for clients navigating the business liquidation process in the Maldives. Whether due to strategic restructuring, insolvency, or voluntary closure, our team ensures that the winding-up process is conducted efficiently, transparently, and in full compliance with applicable laws and regulations.

We represent both local and foreign-owned entities across various sectors, managing all legal and procedural aspects of liquidation while safeguarding our clients’ rights and minimizing potential risks.

OUR SERVICES INCLUDE
  • Legal Guidance Throughout the Liquidation Process

We advise clients on the most appropriate method of winding up, voluntary or compulsory liquidation, based on the nature of the business and the underlying reasons for closure.

  • Asset Realization and Distribution

Our team assists in identifying, valuing, and realizing company assets, and oversees the fair and lawful distribution of proceeds to creditors and shareholders in accordance with legal priorities.

  • Liability Settlement and Debt Management

We help resolve outstanding liabilities, including debts, employee claims, and tax obligations, ensuring that all settlements are handled in a legally compliant and orderly manner.

  • Contract Termination and Regulatory Notifications

We manage the termination of existing contracts, lease agreements, and employment relationships, while also handling necessary notifications to regulatory authorities such as the Ministry of Economic Development and Trade, Maldives Inland Revenue Authority (MIRA), and other relevant bodies.

  • Final Reporting and Business Deregistration

Our services include preparing final accounts, liquidation reports, and all documentation required to formally close the business and remove it from the relevant business registries.

Whether your business is closing due to insolvency or as a planned exit strategy, Munawwar & Co provides the legal clarity and structured support needed to wind down operations smoothly. Our approach minimizes legal exposure, protects stakeholder interests, and ensures full compliance with Maldivian law throughout the liquidation process.