liquidation

(redirected from Creditors' voluntary liquidation)
Also found in: Dictionary, Thesaurus, Legal, Financial.
Related to Creditors' voluntary liquidation: Members voluntary liquidation

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)
References in periodicals archive ?
A spokesman for insolvency specialists Baker Tilly said: "As a result of financial issues, the directors of Padarn Bus have instructed Baker Tilly to assist them with a view to placing the company into creditors' voluntary liquidation.
Administrators from the Manchester accountants have announced they are moving Dolgarrog Aluminium Ltd from administration to the next stage: creditors' voluntary liquidation.
It also includes special regional reports from Europe, Asia and Australia, and updates on agency and government policies that impact corporate insolvencies, as well as general corporate insolvency materials, companies regulation, partnerships and societies regulations, court liquidation, creditors' voluntary liquidation, intangible assets, charges and fees and priorities.
They are recommending either creditors' voluntary liquidation or, if unsecured creditors - including Customs and Excise who are owed pounds 250,000, can not be satisfied - deregistration for the company.
Harrison Logistics, part of the former T&J Harrison line, is to go into creditors' voluntary liquidation.
Both Seama Group Ltd and M & Leisure (UK) Ltd were placed into creditors' voluntary liquidation on 12 September 2013 with deficiencies of PS65,585 and PS128,056 respectively.
But bad weather kept the crowds away and problems with sponsorship meant that just months later the company went into creditors' voluntary liquidation.
The decision of Eric France Metal Recycling, who trade under JKL (Wakefield) Ltd, to enter into a creditors' voluntary liquidation has also hit Championship club Dewsbury.
The Post can reveal that DBT Bars, recent owners of the Newhall Street venue, were placed into creditors' voluntary liquidation last month.
It was, therefore, decided that the most appropriate course of action was to commence the procedure to put the company into creditors' voluntary liquidation.