liquidation

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Related to Compulsory liquidation: Winding Up Order

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 clarification comes after the British company last week announced that it has entered compulsory liquidation after costly contract delays and a downturn in new business that prompted a string of profit warnings and a first-half loss of more than 1 billion pounds ($1.
The profit impact of Carillions compulsory liquidation would be recorded as an exceptional non-underlying charge in the income statement.
Sandy Mewies AM hopes the Clocktower can be returned to public use despite the winding up of the Broli Cymraeg Trust The Broli Cymraeg Trust, based at The Clocktower, Mostyn, has gone into compulsory liquidation and been wound up
The firm was placed into compulsory liquidation by HM Revenue & Customs because it had become insolvent and was unable to pay its debts for tax and VAT.
A report by the Government's Insolvency Service said the firm, Howard Frapwell Insurance and Mortgage Independent Financial Advisors Ltd, was put into compulsory liquidation in October, 2002, on the petition of Norwich Union Life and Pensions.
However, the airline went into compulsory liquidation last month.
Camelot Pine Limited was placed into compulsory liquidation by the Order of the Newcastle District Registry in July 2001.
Fenline Limited was placed in compulsory liquidation by the High Court in January 2002 on petition of the Inland Revenue for pounds 8,681,078 unpaid VAT.
Best was a director of Bestex Coatings Limited, which went into compulsory liquidation in 1997 after a flood of complaints.
Whilst it has not been possible to examine all transactions and obligations of CCC in the brief period since the order for compulsory liquidation on the 17th March 2008, the preliminary assessment of the current CCC financial position is as follows:-
Despite considerable efforts, those discussions have not been successful, and the board of Carillion has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect," the missive continued.
Ginavo Media was put into compulsory liquidation last November and the director, 38-year-old Nicholas Abbinante, of Chester, has now been banned from being a director for 10 years.

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