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 ?
Meanwhile, he was also appointed as a director of APT Chocolate Mouldings Limited in 1992 -but that firm was forced into compulsory liquidation in 2000.
Yamaichi Tochi Kabushiki Kaisha and Sanryou Estate Kabushiki Kaisha submitted applications for commencement of compulsory liquidation proceedings to the Tokyo District Court on July 11, 2003.
9% over the same period, administration orders by 55%, compulsory liquidations by 26.
Luton-based Now Airlines, which was set up at the start of last year to challenge bigger no-frills carriers like EasyJet and Ryanair, went into compulsory liquidation last month, a spokesman for the Official Receiver said.
Only five per cent suffered compulsory liquidation or bankruptcy and more than 25 per cent were sold to new owners.
Foreco was put into compulsory liquidation by the High Court in the public interest.
Carlton was placed in compulsory liquidation following a High Court order in March 2002,m with an estimated total deficiency of pounds 112,972.
John Harrison, of Scotswood Road, Newcastle, gave the undertaking to the Insolvency Service after Rockshots 2, a club in the city's Waterloo Street, was placed into compulsory liquidation last June with debts estimated at pounds 381,000.
It was claimed that, between them, they had run 10 companies which had all been put into voluntary or compulsory liquidation, with Mr Turner being involved in nine failed firms and Mr Crawley in just one other company which had collapsed.
It has now been put into compulsory liquidation in the High Court, the Insolvency Service saying that PS3m of the money raised went into the pockets of sales reps and the rest has disappeared.
Mr Kelly said the administration became necessary after one creditor presented a winding up petition which could have forced the company into compulsory liquidation.
FAMILIES in Warwick-shire who handed over thousands of pounds to join a luxury holiday club have discovered the firm is threatened with compulsory liquidation.

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