Dictionary Meaning and Definition on 'Liquidation'
- termination of a business operation by using its assets todischarge 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 beingliquidated.To go into liquidation (Law), to turn over to a trusteeone's assets and accounts, in order that the severalamounts of one's indebtedness may be authoritativelyascertained, and that the assets may be applied towardtheir discharge.
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
- BackWeb Shareholders Approve Voluntary Liquidation of the Company, Appoint Liquidator
BackWeb Technologies Ltd. announced that at the Extraordinary General Meeting of Shareholders held yesterday, shareholders overwhelmingly approved the Board’s recommendation to liquidate the Company, cease operations and appoint Mr. Read more on this news related to 'Liquidation'
- Mainzeal's Yan fails in bid to stall liquidation
Mainzeal director Richard Yan has failed in his urgent High Court bid to stall the liquidation of a company within the collapsed construction business' wider group.Yan, however, is now seeking relief in the Court of Appeal -... Read more on this news related to 'Liquidation'
- Richina fights to overturn liquidation
A company directed by former Mainzeal board member Richard Yan is appealing a liquidation order and has made an urgent application to the High Court to put it on hold.Richina Global Real Estate, whose sole director is Yan, was put... Read more on this news related to 'Liquidation'