liquidation

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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 ?
The Ordinary Shares will remain capable of being transferred in paper form for a limited time until the Members' Voluntary Liquidation is completed with the sanction of the Proposed Liquidators.
If the Resolutions are approved by Shareholders, the Company will commence a Members' Voluntary Liquidation following the Cancellation and the appointment of a liquidator is accordingly required.
In a Members' Voluntary Liquidation, the powers of the directors cease (save to the extent that the Company in a general meeting or the liquidators sanction otherwise) and the liquidators assume responsibility for the Company's affairs.
Resolution 5 (as set out in the Notice of General Meeting) seeks Shareholder approval to fix the Proposed Liquidators' remuneration at their normal charging rates according to the time properly spent by them and members of their staff in attending to matters arising in the winding-up of the Company (including those falling outside their statutory duties) and to authorise them to draw sums on account of their remuneration from time to time as the Members' Voluntary Liquidation progresses.
6m sale of its medical diagnostics business and subsequent placing of the company into members' voluntary liquidation.
The directors consider that the interests of shareholders as a whole will be best served by the company realising value for FTS and returning the cash to shareholders in a tax efficient manner by way of a members' voluntary liquidation," a statement said.
This announcement is made by Blue Planet Financials Growth & Income Investment Trusts Nos (1 - 10) plc (each a "G&I Trust" and together "G&I") in connection with the proposed merger of G&I with Blue Planet International Financials Investment Trust plc ("International") and Blue Planet Worldwide Financials Investment Trust plc ("Worldwide") to be completed pursuant to schemes of reconstruction under Section 110 of the Insolvency Act 1986 ("Schemes") whereby G&I and Worldwide will be placed in members' voluntary liquidations and will transfer all of their assets and liabilities to International, details of which were contained in the G&I circular to shareholders ("the Circular") dated 26 March 2012.
Dated: 14th July 2014 Jim Hamilton Liquidator Please note that these are Members' Voluntary Liquidations.
This announcement is made by Blue Planet Worldwide Financials Investment Trust plc ("the Company") in connection with the proposed merger of the Company with Blue Planet International Financials Investment Trust plc ("International") and Blue Planet Financials Growth & Income Investment Trusts Nos (1- 10) plc ("G& I") to be completed pursuant to schemes of reconstruction under Section 110 of the Insolvency Act 1986 ("Schemes") whereby the Company and G&I will be placed in members' voluntary liquidations and will transfer all of their assets and liabilities to International, details of which were contained in the Company's circular to shareholders ("the Circular") dated 26 March 2012.
Dated: 11th July 2014 Peter Doherty Liquidator "Please note that these are Members' Voluntary Liquidations.
Worldwide and G&I will, subject to the resolutions being passed at the general meetings on 18 May 2012, be placed in members' voluntary liquidations in preparation for the completion of the merger.

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