Final balance sheet and distribution plan (art. 109 LGS)
Once liabilities have been extinguished, liquidators must prepare the final balance sheet and distribution plan, reimburse capital and distribute the surplus.
What article 109
Article 109 governs the final balance sheet and distribution of the liquidation surplus.
Once the company’s liabilities have been extinguished, the liquidators shall prepare the final balance sheet and distribution plan: they shall reimburse capital interests and, unless the constitutive instrument provides otherwise, distribute the surplus in proportion to each member’s share in profits.
Source: Law 19,550, art. 109 — InfoLEG (updated official text)
Commentary
This is the economic close of liquidation: once debts have been paid, capital is returned and any remaining surplus is distributed according to profit-sharing ratios unless the constitutive instrument provides otherwise.
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