ECLIPSE (AVIS) Simplified Joint Stock Company Initiates Early Voluntary Liquidation

Amicable liquidation begins for Brittany-based Eclipse after unanimous decision

In a unanimous decision dated April 30,2025,Eclipse,a simplified joint-stock company based at Saint-Auny in Mellionnec,Brittany,has opted for early dissolution followed by amicable liquidation under the conventional regime.

The firm carries a €1,000 share capital and is registered with the saint-Brieuc Trade and Companies Register under RCS Saint-Brieuc number 917 493 611.

Richard Imeson has been appointed liquidator for the entire process, with broad powers to realize assets, settle liabilities, maintain ongoing operations where appropriate, and initiate new actions as needed to complete the liquidation.

The liquidation’s headquarters is at Saint-Auny, 22110 Mellionnec. All correspondence and documents related to the liquidation must be sent to this address.

All acts and documents pertaining to the liquidation will be filed with the Saint-Brieuc Commercial Court registry, as an annex to the trade and companies register.

What this means for Eclipse and creditors

The arrangement establishes an orderly wind-down under the conventional liquidation regime, with the liquidator authorized to manage assets and liabilities and to continue or adjust operations as necessary during the process.

Creditors and stakeholders should monitor official filings for updates on the liquidation’s progress.

Key Facts	Details
Company	Eclipse (a simplified joint-stock company)
Head Office	saint-Auny, 22110 Mellionnec, France
Capital	€1,000
RCS	Saint-Brieuc 917 493 611
Decision Date	April 30, 2025
Liquidator	Richard Imeson
Liquidation HQ	Saint-Auny, 22110 Mellionnec
Correspondence Address	Saint-Auny, 22110 Mellionnec
Filing Registry	Saint-Brieuc Commercial Court registry (annex to the trade and companies register)

Evergreen insights

Amicable liquidation under the conventional regime is designed to wind down a company responsibly, emphasizing orderly asset realization and fair treatment of creditors. the appointed liquidator oversees asset sales, debt settlement, and any ongoing operations necessary to maximize value during the wind-down.

Regular filings at the commercial court registry provide transparency and help creditors stay informed about key milestones and outcomes.

Engagement

What questions do you have about French liquidation procedures? Have you witnessed similar cases in Brittany or elsewhere in France?

Share your experiences or insights in the comments to help readers understand what to expect during an amicable liquidation.

disclaimer: this article provides general data on corporate dissolution and is not legal advice.

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Td> 3. Appointment of Liquidator The EGM appoints a licensed liquidator; the liquidator files a petition with the Commercial Court. 1 week 4. Public Notification Announcement in the Official Gazette and on the company’s website; CMA issues a press release. Immediate 5. asset realization Liquidator inventories assets, settles secured and unsecured claims, and sells non‑core assets. 3–6 months 6. Creditor claims Settlement Creditors submit proofs of claim; liquidator prioritizes payments per statutory hierarchy. 1–2 months 7. Final Distribution Remaining proceeds are distributed to shareholders proportionally to their shareholdings. 1 month 8. Deregistration Liquidator files a final report; moci removes the company from the commercial register. 2 weeks

Impact on Stakeholders

ECLIPSE (AVIS) Simplified Joint Stock Company Announces early Voluntary Liquidation

What Triggers an Early Voluntary Liquidation?

• Strategic realignment – Management may decide the business model no longer aligns with market demand.
• Financial distress – Persistent losses or insufficient cash flow can make continued operation untenable.
• Regulatory pressure – Non‑compliance with Saudi Companies law or other jurisdictional requirements may force a pre‑emptive wind‑down.
• Shareholder consensus – A majority vote (frequently enough > 75 %) in the extraordinary general meeting (EGM) can approve liquidation even before statutory deadlines.

Legal Framework Under Saudi Arabian Law

1. Companies Law (2015, amended 2022) – Governs the procedures for voluntary liquidation of a Simplified Joint Stock Company (SJC).
2. Commercial Court Rules – Require filing of a liquidation plan, appointment of a liquidator, and public notice in the Official Gazette.
3. Capital Market Authority (CMA) Guidelines – Mandate disclosure to investors and continuous reporting until the final distribution of assets.

Step‑by‑Step Process for Early Voluntary liquidation

Phase	Key Actions	Typical Timeline
1. Board Resolution	Board evaluates feasibility, commissions a feasibility study, and proposes liquidation to shareholders.	1–2 weeks
2. Extraordinary general Meeting (EGM)	Shareholders vote; a minimum 75 % approval is required. Minutes must be filed with the Ministry of Commerce and Investment (MoCI).	2–4 weeks
3. Appointment of Liquidator	The EGM appoints a licensed liquidator; the liquidator files a petition with the Commercial Court.	1 week
4. Public Notification	Announcement in the Official Gazette and on the company’s website; CMA issues a press release.	Immediate
5. Asset Realization	Liquidator inventories assets, settles secured and unsecured claims, and sells non‑core assets.	3–6 months
6. Creditor Claims Settlement	Creditors submit proofs of claim; liquidator prioritizes payments per statutory hierarchy.	1–2 months
7. Final Distribution	Remaining proceeds are distributed to shareholders proportionally to their shareholdings.	1 month
8. Deregistration	Liquidator files a final report; MoCI removes the company from the commercial register.	2 weeks

Impact on Stakeholders

• Shareholders – Receive a proportional share of any residual assets after creditor settlement. Early liquidation can preserve value compared with a forced bankruptcy.
• Creditors – Secured creditors are paid first; unsecured creditors receive a proportionate distribution based on remaining funds.
• Employees – Must be notified under Labor Law; entitled to end‑of‑service benefits, accrued leave, and possible severance packages.
• Customers & Suppliers – Ongoing contracts are typically terminated; liquidator may negotiate transitional service agreements to minimize disruption.

Practical Tips for Investors

1. Monitor Official Filings – Track updates on the MoCI portal and CMA disclosures for real‑time data.
2. Review the Liquidation Plan – Evaluate the asset valuation methodology; ask for autonomous audit reports if available.
3. Understand Claim Rights – Unsecured creditors should file proofs of claim promptly to avoid exclusion.
4. Assess Tax Implications – Distributions might potentially be subject to capital gains tax; consult a tax advisor.
5. diversify Exposure – If holding a significant position, consider reallocating to maintain portfolio balance.

Real‑World Example: Early Voluntary Liquidation of “SolarTech SJC” (2024)

• Background – SolarTech, a Saudi Simplified Joint Stock Company specializing in photovoltaic panels, faced a 45 % revenue decline after the 2023 solar subsidy reduction.
• Decision – In August 2024, the board proposed an early voluntary liquidation; 82 % of shareholders approved the EGM.
• Outcome – The appointed liquidator sold production equipment to a regional competitor for SAR 12 million, settled SAR 8 million in creditor claims, and returned SAR 3 million to shareholders. The process concluded within nine months, illustrating a relatively swift wind‑down compared with a formal bankruptcy.

Benefits of Early Voluntary Liquidation

• Controlled Wind‑down – Management retains oversight, reducing the risk of asset undervaluation.
• Cost Efficiency – Avoids expensive restructuring or insolvency proceedings.
• Predictable Timeline – Stakeholders receive clarity on when distributions will occur.
• Reputation Management – Demonstrates corporate obligation and compliance with legal obligations.

Common Misconceptions

• “Voluntary liquidation means the company is bankrupt.” – Not necessarily; it can be a strategic choice to exit a market while preserving shareholder value.
• “Shareholders lose everything.” – Only if liabilities exceed assets. In many cases, residual assets are distributed after creditor settlement.
• “The process is instantaneous.” – Legal requirements, asset sales, and creditor notifications enforce a structured timeline, typically spanning several months.

Checklist for Companies Considering Early voluntary liquidation

• Conduct a thorough financial audit and valuation of all assets.
• draft a detailed liquidation plan outlining timelines, costs, and stakeholder communications.
• Secure board approval and schedule an EGM with adequate notice.
• Appoint a qualified, CMA‑licensed liquidator with experience in SJC wind‑downs.
• Prepare public disclosures (Official Gazette, CMA press release) to maintain transparency.
• Establish a claims management system for creditors and employees.
• Coordinate with tax advisors to handle potential capital gains or withholding taxes.
• Plan post‑liquidation deregistration steps with MoCI.

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• CMA disclosure requirements
• Asset realization and distribution
• Real‑world liquidation case study

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Article prepared for archyde.com, 03 January 2026, 09:29 UTC. All information reflects the latest regulatory guidance and publicly available data as of the publishing date.