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Nevertheless, liquidators (like administrators and some receivers) can generally be said to have a broad degree of discretion about the conduct of liquidation. They must realise assets to distribute to creditors, and they may attempt to maximise these by bringing new litigation, either to avoid transactions entered into by the insolvent company ...
In 2011, following sustained losses, Kesa sold the company to private equity firm OpCapita for a token £2. The firm entered administration in November 2012, and all stores and their stock was liquidated and closed by 18 December. Before its collapse, the company was the UK's second biggest electrical retailer, with 6,000 staff and over 200 stores.
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders ...
Liquidity Services was co-founded by William P. Angrick III, Jaime Mateus-Tique, and Ben Brown in 1999. It was branded as Liquidation.com and was a B2B auction marketplace that connects sellers to buyers. [6] The platform allowed retailers to resell retail returns and overstock [7] and enabled buyers to access bulk lots of surplus merchandise. [8]
In the UK, directors are exposed in respect of transaction at an undervalue, preferences, and extortionate credit transactions if the transaction occurred: a) while the company was insolvent; and b) within 2 years before the onset of liquidation if the transaction was with a connected person, and 6 months if the transaction was with an ...
The Company was founded by Joseph Cattle in 1927 in Hull. [1] It was first listed on the London Stock Exchange in 1963. [1] In the 1990s it developed the Shopacheck brand. [1] In 1990 it acquired Compass Credit and went on to buy Welcome Financial Services in 1994, The Lewis Group in 1997 and Dial4aloan in 2001.
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It was created as part of the privatisation of British Rail, listed on the London Stock Exchange, and was a constituent of the FTSE 100 Index. In 2002, after experiencing major financial difficulty, most of Railtrack's operations were transferred to the state-controlled non-profit company Network Rail. The remainder of Railtrack was renamed RT ...