Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

how to close a business?

View previous topic View next topic Go down  Message [Page 1 of 1]

1 how to close a business? on Wed Feb 23, 2011 12:51 pm

rpm


Arresto Menor
may i ask po,
1. ano po ang procedure to close a business? and to file for a bankruptcy? we stopped operation early this year, dahil po wala ng profit, sobrang puno abono nalang ang nangyayari..

2. kahit po ba alam ng mga empleyado na bankrupt na, do we need to pay them separation? we paid them pero partial lang tlga.

3. pano po sss/philhealth/pag ibig nila na di na rin po nahabol ang payments for around 4months? pde po ba nila kami idemanda? e wala na nga po kmi funds?

4. pano po kaya ung non-payment din namin sa lessor namin? di rin po kse kami nakbayad ng ilang buwan.. ang ginawa nya po ni-lock nya ang gamit namin.. di kmi makakuha ng kahit ano.. tama po ba ang ginawa ng lessor?

maraming salamat po.. pls tell me what to do.. thanks again..

View user profile

2 Re: how to close a business? on Wed Feb 23, 2011 4:30 pm

attyLLL


moderator
is this a corporation? who is stated as the biz owner in your documents such as bank account and BIR, etc.?


_________________
[i] Visit our FB Page: BPO Employee Legal Advice
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile

3 Re: how to close a business? on Wed Feb 23, 2011 6:39 pm

rpm


Arresto Menor
yeah this is a family corporation, my father, me and other siblings..

View user profile

4 Re: how to close a business? on Thu Feb 24, 2011 8:15 pm

attyLLL


moderator
first, get an independent auditor to make a financial report so you will have proof of the poor condition of the company.

bankruptcy requires the filing of a petition in court.

you can file an amended article of incorporation to end the corp. i believe the local government will have a procedure for shutting the business also.

for your employees, you will have to give 30 day notice to them and the DOLE. if you do not pay separation pay, you will need to show your audit report to show why.

inquire with the SSS if they have a process about delinquent accounts and how to suspend them.

lessors do not have a retention lein on the properties unless it's in the contract.


_________________
[i] Visit our FB Page: BPO Employee Legal Advice
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile

5 Re: how to close a business? on Thu Feb 24, 2011 9:05 pm

rpm


Arresto Menor
we stopped operation already and paid the employees a part of their separation pay..

we do not have an access to our office anymore. the lessor locked up the office, most of our equipment, furnitures, are still there..

View user profile

Sanjo S


Arresto Menor
Hi sir how would this case apply to a Sole Proprietorship business? In my case, I am totally broke and I have no stake to liquidate to repay my debts.

View user profile

7 Re: how to close a business? on Sat Feb 26, 2011 7:32 pm

attyLLL


moderator
sanjo, for a sole proprietorship, same with employees, but only mayor's permit and bir reg, no more at SEC


_________________
[i] Visit our FB Page: BPO Employee Legal Advice
Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
View user profile

8 Re: how to close a business? Today at 12:34 am

Sponsored content


View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum