Liquidation is deemed one of the vital legal stages that commence after the termination of a company. Upon its termination, for any event stipulated in the law, its legal personality persists and continues until the completion of the liquidation process. The company does not immediately cease its activities upon announcing liquidation, However, it continues until it settles its transactions, fulfills debts, and realizes its rights. This situation paves the way for the distribution of company assets among its partners and shareholders. This study delves into the legal provisions governing the phase of liquidating the public joint-stock companies at the provisions of the Omani Commercial Companies Law No. (18/2019) and its executive regulations. It compares these regulations with the repealed Omani Commercial Companies Law No. (4/1974) and various comparative regulations. The study addresses the concept of the liquidator, their legal position, adaptation of responsibilities, the extent of supervision over their actions, determination of their authorities and responsibilities, clarification of the continuity of the corporate personality, its significance, the impact of liquidation on contracts entered into by the company, and finally, the explanation of statutes of limitations related to liquidation claims. The study comes into conclusion that the Omani Commercial Companies Law addressed several challenges and restrictions hindering the liquidation process by lifting some limitations on the liquidator's actions. This includes the prohibition of arbitration and the ability to negotiate settlements with creditors. The recommendations emphasize empowering the liquidator to manage contracts made by the company upon announcing liquidation. Additionally, there is a priority to specify the levels for settling the company's debts – under liquidation – by providing a defined order, given the congestion of outstanding debts.