<P> Unclaimed assets will usually vest in the state as bona vacantia . </P> <P> Having wound - up the company's affairs, the liquidator must call a final meeting of the members (if it is a members' voluntary winding - up), creditors (if it is a compulsory winding - up) or both (if it is a creditors' voluntary winding - up). The liquidator is then usually required to send final accounts to the Registrar and to notify the court . The company is then dissolved . </P> <P> However, in common jurisdictions, the court has a discretion for a period of time after dissolution to declare the dissolution void to enable the completion of any unfinished business . </P> <P> In some jurisdictions, the company may elect to simply be struck off the companies register as a cheaper alternative to a formal winding - up and dissolution . In such cases an application is made to the registrar of companies, who may strike off the company if there is reasonable cause to believe that the company is not carrying on business or has been wound - up and, after enquiry, no case is shown why the company should not be struck off . </P>

When does the company is said to be solvent in liquidation