Dictionary Meaning and Definition on 'Liquidation'
- termination of a business operation by using its assets to discharge its liabilities [syn: settlement]
- the act of exterminating [syn: extermination]
- the murder of a competitor [syn: elimination]
- Liquidation \Liq`ui*da"tion\ (l[i^]k`w[i^]*d[=a]"sh[u^]n), n.
[Cf. F. liquidation.]
The act or process of liquidating; the state of being
To go into liquidation (Law), to turn over to a trustee
one's assets and accounts, in order that the several
amounts of one's indebtedness may be authoritatively
ascertained, and that the assets may be applied toward
Wikipedia Meaning and Definition on 'Liquidation'
In law, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation) or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors, see below).[See more about Liquidation at Dictionary 3.0 Encyclopedia]
Words and phrases related to 'Liquidation'
Liquidation Sample Sentences in News
- Liquidation plan OK'd for failed Phila. casino project
A bankruptcy judge in Philadelphia approved the liquidation plan of the partnership behind the failed Foxwoods Casino project in South Philadelphia. Read more on this news related to 'Liquidation'
- Fisker Liquidation Approved After Wanxiang Asset Sale
Fisker Automotive Holdings Inc., the defunct maker of luxury plug-in cars, won bankruptcy court approval of a liquidation plan that will distribute proceeds from a $149.2 million asset sale. Read more on this news related to 'Liquidation'
- Company sold assets before liquidation
Queenstown-based road construction company Blue 9 Ltd owes $2.8 million but appears to have sold all its assets before going into liquidation, a liquidator's report says. Read more on this news related to 'Liquidation'