A company in liquidation with receipts has to file its Declaration of Receipts and Payments (“Declaration”) with IRAS on an annual basis, while a company in liquidation without receipts has to file its Declaration once every four years.
For a company in liquidation that has receipts, the liquidator will have to file a Declaration of Receipts and Payments (With Receipts) (1.2MB) with IRAS on a yearly basis.
Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source.
Jawbone, which was once valued as high as billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel.
Jawbone founder and CEO Hosain Rahman has started a new company called Jawbone Health Hub, which will work on medical software and hardware.
The company has raised money for the new venture, but it's unclear how much, the source said.
Companies that have commenced voluntary or compulsory liquidation will have a liquidator appointed by the company or the Court.
Liquidation can be a crucial part of a restructuring process and could mean you go on to a very successful business career.This should be filed with IRAS within one month of end of the period for which the declaration is made.For example, Company A commenced liquidation on 2 April 2016 and continued to receive income.Jawbone was in the process of making a shift to making "clinical-grade" wearable devices that could measure vitals like blood pressure, but the company was having trouble getting the device to work properly, sources told Business Insider.It's unclear if Jawbone Health Hub will continue work on the device.