Liquidation

liquidatedvoluntary liquidationliquidatewound upwinding upliquidatingwinding-upwind upinsolvent liquidationLiquidation sale
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.wikipedia
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Company

companiesenterpriseenterprises
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.
When a company closes, it may need a "death certificate" to avoid further legal obligations.

Dissolution (law)

Dissolveddissolutiondissolve
Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.
Dissolution is the last stage of liquidation, the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed.

Bankruptcy

bankruptbankruptcy protectionbankruptcies
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation following bankruptcy, which may result in the court creating a "liquidation trust") or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors).
In some countries, such as the United Kingdom, bankruptcy is limited to individuals; other forms of insolvency proceedings (such as liquidation and administration) are applied to companies.

Liquidator (law)

liquidatorliquidatorsprovisional liquidator
The court may appoint an official receiver, and one or more liquidators, and has general powers to enable rights and liabilities of claimants and contributories to be settled.
In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets under such circumstances of the company and settling all claims against the company before putting the company into dissolution.

Insolvency

insolventcorporate insolvencyinsolvency law
A creditors’ voluntary liquidation (CVL) is a process designed to allow an insolvent company to close voluntarily.
The principal focus of modern insolvency legislation and business debt restructuring practices no longer rests on the liquidation and elimination of insolvent entities but on the remodeling of the financial and organizational structure of debtors experiencing financial distress so as to permit the rehabilitation and continuation of their business.

Fraudulent trading

with intent to defraud creditors
In some legal systems, in appropriate cases, the liquidator may be able to bring an action against errant directors or shadow directors for either wrongful trading or fraudulent trading.
Where during the course of a winding-up, it appears to the liquidator that fraudulent trading has occurred, the liquidator may apply to the court for an order any persons who were knowingly parties to the carrying on of such business are to be made liable to make such contributions (if any) to the company's assets as the court thinks proper.

Floating charge

floatingfloating chargesfloating debt
In most legal systems, only fixed security takes precedence over all claims; security by way of floating charge may be postponed to the preferential creditors.
The floating charge This conversion of the floating charge into a fixed charge (called "crystallisation") can trigger common law jurisdictions]] it is an implied term in security documents creating floating charges that a cessation of the company's right to deal with the assets (including by reason of insolvency proceedings) in the ordinary course of business leads to automatic crystallisation.

Wrongful trading

negligently trading
In some legal systems, in appropriate cases, the liquidator may be able to bring an action against errant directors or shadow directors for either wrongful trading or fraudulent trading.
Wrongful trading is an action that can be brought only by a company's liquidator, once it has gone into insolvent liquidation.

Official receiver

receivershipOfficial Receiver's OfficeProvisional Liquidator
His role was originally confined to personal bankruptcy, but it was extended to companies in compulsory liquidation by the Companies (Winding Up) Act 1890 (53 & 54 Vict c 63).

Provisional liquidation

provisional liquidatorprovisional liquidators
Under the corporate insolvency laws of a number of common law jurisdictions, where a company has been engaged in misconduct or where the assets of the company are thought to be in jeopardy, it is sometimes possible to put a company into provisional liquidation, whereby a liquidator is appointed on an interim basis to safeguard the position of the company pending the hearing of the full winding-up petition.
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis.

Chapter 7, Title 11, United States Code

Chapter 7Chapter 7 bankruptcyChapter 7 liquidation
Chapter 7 of the Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States (in contrast, Chapters 11 and 13 govern the process of reorganization of a debtor in bankruptcy).

Estate liquidation

An estate liquidation is similar to an estate sale in that the main concern or goal is to liquidate the estate (home, garage, sheds and yard) with an estate sale organization There is no government regulation of the industry.

Liquidating distribution

Liquidating dividend
A liquidating distribution (or liquidating dividend) is a type of nondividend distribution made by a corporation or a partnership to its shareholders during its partial or complete liquidation.

Administration (law)

administrationvoluntary administrationwent into administration
The process – in the United Kingdom colloquially called "under administration" – is an alternative to liquidation, or may be a precursor to it.

Debtor-in-possession financing

bankruptcy debt financingdebtor-in-possession (DIP) financingDIP Financing
DIP financing may be used to keep a business operating until it can be sold as a going concern, if this is likely to provide a greater return to creditors than the firm's closure and a liquidation of assets.

Secured creditor

secured creditorssecured
Before the claims are met, secured creditors are entitled to enforce their claims against the assets of the company to the extent that they are subject to a valid security interest.
In most legal systems, secured creditors also have the option of releasing their security and proving in the liquidation, although, in practice, they would rarely do so.

United Kingdom

BritishUKBritain
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

Australia

AUSAustralianCommonwealth of Australia
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

New Zealand

NZLNZKiwi
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

Republic of Ireland

IrelandIrishRepublic
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

Cyprus

CypriotRepublic of CyprusCYP
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

United States

AmericanU.S.USA
Liquidation is the process in accounting by which a company is brought to an end in the United Kingdom, Australia, New Zealand, Republic of Ireland, Cyprus and United States.

Customs

customs dutiesCustoms Servicecustom duties
The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

Authority

authority figureauthoritiesauthoritative
The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

Government agency

agencygovernment agenciesGovernmental organization
The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.