Corporate Officers, Investors and Venture and Private Equity firms often fail to meet their fiduciary duty when shutting down or liquidating a company. Venture Liquidation Services provides assistance to companies to better assure fiduciary duties of officers and directors are met and that proceeds are more quickly distributed to appropriate parties.
When a company sells its assets or if the deal has gone sideways and investors are pulling their support, company management, particularly the CFO or Controller is tasked to wind-down the company. Unfortunately, many do not have the necessary experience and are too emotionally tied to the situation to perform a quality job. While best intentions exist, as soon as the next opportunity presents itself, crucial tasks are often curtailed or skipped, creating liability to unsuspecting officers and directors.
Appropriate record retention also often gets overlooked as companies wind-down. Companies either save everything, overspending on storage or too little, creating liability for the officers and directors. Venture Liquidation Services understands record retention requirements and creates electronic warehouses so that data can be stored, retrieved and eventually destroyed, in an efficient, cost effective manner.
As an unbiased party with experience in wind-downs, Venture Liquidation Services is your solution to helping you meet your fiduciary responsibility when you are shutting down a company.