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liquidation
(redirected from Compulsory liquidation)

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.02 sec.
liquidation
Business
a. the process of terminating the affairs of a business firm, etc., by realizing its assets to discharge its liabilities
b. the state of a business firm, etc., having its affairs so terminated (esp in the phrase to go into liquidation)


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In a compulsory liquidation, the unsecured creditors generally have the right to choose and appoint the liquidator.
The Broli Cymraeg Trust, based in the landmark Clocktower building in Mostyn, went into compulsory liquidation and was wound up on June 17, Companies House has confirmed.
Now Formula 10, which mainly did work for music festivals, has been put into compulsory liquidation and Adams, 44, banned from acting as a company director for six years.
 
 
 
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