Liquidating s corp
The company's filing status is listed as Withdrawn and its File Number is 20041329488. The Registered Agent on file for this company is Corporation Service Company and is located at 1560 Broadway Ste 2090, Denver, CO 80202. State codes differ on dissolution procedures for S Corporations, but managers must follow them exactly to legally terminate the business and liquid assets.You must also follow all dissolution guidelines stated in your own company's Articles of Incorporation, which were determined when the business was established.You'll need to speak to the creditor about how to handle the collateral if you can't repay the debt—whether you will give it to the creditor as is or sell it with the creditor's permission, giving the proceeds to the creditor.
Competitors may also be interested in buying your intellectual property (trademarks, copyrights, and patents) and any works or jobs in progress, as well as your customer lists and company name or product names.So make a high-energy effort to collect them now, or sell them accounts receivable to a factor, or debt buyer, who will either buy your accounts receivable at a fraction of their worth or, for a fee, pay you a certain percentage of the debt up front and the rest when they collect it.(Get more information on accounts receivable factoring.) Don't cheat your creditors.Your main options are to return the property or to "assign" the lease contract to someone else (the lessor will usually have the right to refuse an assignment, however).You'll want to try to get the secured creditor or lessor to settle for less than the amount you owe on the loan or lease; see Nolo's article Paying Off Debt When You Go Out of Business.