Appointment
The government assigns those who can be selected as liquidators by decree. The government invites applications for the entrance on the list of names of liquidators every year. Liquidations can be conducted by companies that have been entered on the list by application. A liquidator is appointed to conduct the
liquidation process and the office-holders name and address have to be announced to the court. The liquidator is entitled to proceed at every court of the country.
Qualifications
According to regulations (167/1993 (XI. 30) order in council modified in 1998) an insolvent company has to employ at least one lawyer, one economist and one auditor. Employees in practice usually have higher qualifications than required.
