Plan of Complete Liquidation
(DE Corporation)


Summary

The below template plan of complete liquidation may be adopted by the board of directors and/or stockholders of a Delaware corporation to effect the complete liquidation and dissolution of the corporation. This template includes practical guidance and drafting notes. The plan gives the directors of the corporation the authority to determine and undertake the necessary steps to effect the winding-up of the company in accordance with the schedule determined by the board of directors to be appropriate and desirable for the corporation and in the best interest of its stockholders. To effect complete liquidation, this plan should be approved both by the directors and the stockholders, although the stockholders may, by unanimous written consent, authorize the dissolution of the corporation without action of the directors. Del. Code Ann. tit. 8, § 275. For a full listing of key content covering Delaware corporate formation, organization, maintenance, ownership, management, and dissolution, ...