In the life cycle of a business, closure is sometimes inevitable. Whether due to financial loss, fulfilment of the purpose, or shareholders agreement, Oman’s Commercial Companies Law promulgated under Royal Decree 18/2019 ensures that liquidation is carried out through a transparent legal process that protects creditors, shareholders, and the public interest.
Speaking exclusively to the Times of Oman, Dr. Mohammed Ibrahim Al Zadjali, Founding Partner of Mohammed Ibrahim Law Firm a leading law office in the Sultanate stated: “Liquidation is not just winding down operations. It is a legal procedure with serious implications, governed by strict timelines, defined roles, and formal requirements.”
“The company may be dissolved for…