The cancellation of a limited liability entrepreneurial company, abbreviated as UG, is a multi-stage process regulated in the Commercial Code (HGB) and the Law concerning Limited Liability Companies (GmbHG). The following overview summarizes the essential steps and legal requirements:

1. Reasons for Cancellation

The termination of a UG can be initiated through voluntary liquidation or by other legally regulated circumstances. A resolution for voluntary dissolution requires a shareholder resolution with a majority as defined by the partnership agreement. Without a contractual arrangement, a majority of 75% of the votes cast is required.

2. Liquidation Process

After dissolution, the UG enters the so-called "liquidation stage," in which the company's assets are liquidated and all liabilities are settled. The steps in detail: