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In most jurisdictions, a liquidator's powers are defined by statute. [3] Certain powers are generally exercisable without the requirement of any approvals; others may require sanction, either by the court, by an extraordinary resolution (in a members' voluntary winding up) or the liquidation committee or a meeting of the company's creditors .In the United Kingdom, see sections 165-168 of the ...
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
The main differences between an estate liquidation and a mere estate sale is the sphere of inclusion which in a liquidation can expand to stocks, bonds, real property, fine jewelry, coin collections and fine art.
Luckin Coffee has called in liquidators to oversee a corporate restructuring and negotiate with creditors to salvage its business, less than four months after shocking the market with a US$300 ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
The appointment of an administrator "freezes" any legal proceedings against the company and control of the company is given entirely to the administrator. Directors of the company are prohibited from acting in their capacity as directors for the duration of the administration, while administrators are personally liable for any debts incurred by ...
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Liquidator (law), the officer who collects the assets of and settles the claims against a company before dissolving it; Estate liquidator, the person given the job of personal estate liquidation; Computer liquidator, a purchaser and reseller of computer technology and related equipment
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