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liquidation
(redirected from Insolvent liquidation)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 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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Directors can be held to account to a liquidator for depletion of the company's assets as a result of continued trading at a time when they knew, or ought to have known, there was no reasonable prospect of avoiding insolvent liquidation.
Know your duties and prepare to fulfil them; Susan Mairs from Clarke ... by The Journal (Newcastle, England)
It should be stressed that liability for wrongful trading cannot arise until there is no reasonable prospect that the company can avoid going into insolvent liquidation.
Know Your Law by Evening Gazette (Middlesbrough, England)
Shareholders should be aware that if the placing and open offer are not approved at the egm, the directors will have to apply for administration or to commence an insolvent liquidation of the company".
Wiggins Group in no state to fund London City track by The Racing Post (London, England)
 
 
 
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