Végelszámolás (voluntary dissolution)
The voluntary winding-up of a solvent company, without successor, on the owners' decision.
Also known as: v.a..
Dissolution is decided not by a court but by the company itself: the members declare the winding-up, elect a liquidator, and the company uses its name with the suffix „végelszámolás alatt” („v.a.”) while the proceedings last.
The essential difference from liquidation is that here the company can pay all its debts — if it turns out mid-proceedings that it cannot, the dissolution converts into liquidation. At the end the company is struck from the register.
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Source: Act V of 2006 (Hungarian Companies Act). This is information, not legal or tax advice.