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 ?
Minister of Mineral Resources, Green Technology and Energy Security, Mr Eric Molale says P956 million has been spent on the liquidation of BCL Mine.
The focus of the liquidation will now shift to the provision of limited transitional services for some supplier and finalising Carillions trading accounts to ensure that payment is made to suppliers who have provided goods and services to the various liquidations.
Bankruptcy liquidations of the bankrupt merchant are of two types:
Note that in the case of de facto liquidations, there may be no materially appreciated assets (if there are any assets at all); however, this should be confirmed on a case-by-case basis.
COMPANY liquidations are forecast to hit an 18-year high with the number of businesses being wound up in the UK reaching more than 25,600 in 2009/10.
Liquidations result in the closure of the business, realisation of assets and distribution of funds amongst the company's creditors.
With personal debt reaching a reported pounds 1 trillion, it is no wonder the latest figures for company liquidations and individual insolvencies are not good, says Midland chartered accountant Dains.
There were 3,439 company liquidations in England and Wales in the first quarter of 2006 on a seasonally adjusted basis.
The demise of the General Utilities doctrine, the narrowing of the ordinary income/capital gain rate differential, and the introduction of section 338 reduced the efficacy of partial liquidations. Ultimately, partial liquidations suffered the ignominy of the repeal of section 346 and the enactment of a subsection in the redemption rules (section 302(b)(4)).
The proclivity of corporations to restructure, together with what is likely to be a reduction in tax rates for capital gain, suggests partial liquidations may regain popularity.
The dramatic increase in the past few years of limited liability companies (LLCs) treated as partnerships as the entity of choice has lead to an increase in liquidations of member interests.
And liquidations have become a more prominent revenue source for both legal and accounting firms.