This in itself explains that the more directors a company has, the longer the process will take.
What is the procedure for liquidating a company? So, when we look at the procedure there are 4 variables that would influence, if the liquidation process will be simple or more complicated and may take longer than expected.
The amount of debt will also be a variable in regards to the procedure and timeline associated with the liquidation. The more the debt of the company, the longer it will take to complete the liquidation.
What type of accounts the various directors and company also have, will definitely play a major role in the liquidation process. The more accounts that will be applicable, the more complex the process will be.
The total assets of the company will also be a variable in the process and will influence the complexity of the liquidation process.