Company Winding Down

[ezzra]

Been Operating this local one Y.O company, and due to unforeseen Internal problems we think that the best way would be to

Either close it or declare bankruptcy, this is 3 Million baht limited company that it's liabilities are greater than it's asset,

any Ideas out there as what the best way to go about it to minimise hassle and heartbreak and of course expenses ?

BTW, the major share holders are long time residents farangs,

[Gaudente]

Been Operating this local one Y.O company, and due to unforeseen Internal problems we think that the best way would be to

Either close it or declare bankruptcy, this is 3 Million baht limited company that it's liabilities are greater than it's asset,

any Ideas out there as what the best way to go about it to minimise hassle and heartbreak and of course expenses ?

BTW, the major share holders are long time residents farangs,

First step would be to ask a lawyer if going bankrupt would automatically declare bankrupt also the associates, in that case it would be better to pay all liabilities and then put the company into liquidation to avoid bankrupt extension.