Can an unlimited liability company ever become a limited liability?



1
Is it possible for a company to change after say a few years or so?

1 Answer(s)


1

Yes it can become Subject to Change of its Liability Clause in the Memorandum of Association.But before Changing so Unltd Company has to Take permissions from its Creditors who on the Anticipation that such company has A Unlimited liability must have Given the Loan.

So once they agree on such terms which effect their Debt Clearing Status Company Can Surely be Converted