Not every business succeeds, and sometimes companies face financial troubles. That’s where URSB comes in to manage liquidation and insolvency processes.
What Is Liquidation?
Liquidation means closing a business, selling its assets, and using the money to pay off debts.
What Is Insolvency?
Insolvency is when a business can’t pay its bills or meet financial obligations.
URSB’s Role
URSB:
- Registers insolvency practitioners
- Oversees the process to ensure fairness
- Ensures creditors and employees are treated justly
- Maintains records of liquidated companies
This keeps the business environment orderly and ensures that failing businesses exit the market properly without causing chaos.