
Corporate Law
Bankruptcy After Turboliquidation
21 August 2025
Turboliquidation is popular among entrepreneurs seeking to terminate their company quickly and cost-effectively.
With a single resolution by the shareholder(s) and registration with the Chamber of Commerce, the legal entity can cease to exist—provided that no assets remain. However, this does not automatically eliminate outstanding debts. Creditors may still petition the court to declare the company bankrupt. Below, you’ll find what is required for such a bankruptcy declaration and why careful application of turboliquidation is essential.