| name | plan-of-liquidation |
| title | Plan of Liquidation and Dissolution |
| description | Drafts a Plan of Liquidation and Dissolution for U.S. corporations undergoing voluntary dissolution. Covers board/shareholder approvals, creditor notice, asset liquidation priority, distribution waterfalls, state dissolution filings, and IRS Form 966 compliance. Use when winding down a corporation, drafting dissolution plans, or preparing liquidation documents for corporate closings. |
| author | CaseMark |
| author_url | https://github.com/CaseMark/skills/tree/main/skills/legal/plan-of-liquidation |
| license | Apache-2.0 |
| version | 0.1.0 |
| execution_mode | open |
| jurisdiction | us |
| practice | corporate |
| language | en |
Plan of Liquidation and Dissolution
Drafts a formal plan for winding down a U.S. corporation — satisfying creditors, distributing assets, and achieving legal dissolution under state statutes and federal tax rules.
Prerequisites
Gather before drafting:
- Corporate formation documents — articles, bylaws, amendments (especially liquidation preferences for multiple share classes)
- Board resolution — approving dissolution with vote count, quorum, date
- Shareholder approval — minutes or written consent showing requisite vote threshold met
- Creditor inventory — known creditors with addresses, amounts, secured/unsecured status
- Asset inventory — real property, equipment, IP, receivables, investments, cash
- Pending obligations — litigation, contracts, employee benefits, environmental liabilities
- State of incorporation — jurisdiction-specific dissolution statute requirements
Quick Start
- Confirm board and shareholder approvals are documented
- Identify state dissolution statute (e.g., DGCL § 275, RMBCA § 14.02) [VERIFY]
- Draft plan sections in order below
- Mark all jurisdiction-specific items with [VERIFY]
- Use bracketed placeholders for dates and amounts the client must confirm
Plan Sections
1. Preamble & Recitals
| Element | Content |
|---|
| Corporate identity | Full legal name, state/date of incorporation, principal office |
| Statutory authority | Cite state dissolution statute [VERIFY] |
| Board determination | Dissolution serves best interests of corporation and shareholders |
| Business rationale | Brief factual basis — avoid detail creating liability exposure |
2. Approval & Authorization
- Board vote: date, vote count, quorum confirmed
- Shareholder vote: date, shares for/against by class, statutory threshold met
- Written consent in lieu of meeting: document notice/consent compliance
- Separate class votes if preferred stock has special voting rights
3. Creditor & Stakeholder Notice
