liquidation

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Related to Members' voluntary liquidation: Creditors voluntary liquidation

Liquidation

The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts.

A type of proceeding pursuant to federal Bankruptcy law by which certain property of a debtor is taken into custody by a trustee to be sold, the proceeds to be distributed to the debtor's creditors in satisfaction of their claims.

The settlement of the financial affairs of a business or individual through the sale of all assets and the distribution of the proceeds to creditors, heirs, or other parties with a legal claim.

The liquidation of a corporation is not the same as its dissolution (the termination of its existence as a legal entity). Depending upon statute, liquidation can precede or follow dissolution.

When a corporation undergoes liquidation, the money received by stockholders in lieu of their stock is usually treated as a sale or exchange of the stock resulting in its treatment as a capital gain or loss for Income Tax purposes.

See: aberemurder, assassination, cancellation, composition, discharge, dispatch, dissolution, homicide, killing, murder, payment, termination

liquidation

the procedure under which a company is dissolved (or wound up). Liquidation maybe voluntary (where the company is solvent but where the purposes for which it was set up have been achieved or no longer exist) or compulsory (usually where the company is insolvent). The function of a liquidator is to convert the assets of the company into cash, which is then distributed among the creditors to pay off (so far as possible) the debts of the company. Any surplus is then distributed among the members.

LIQUIDATION. A fixed and determinate valuation of things which before were uncertain.

References in periodicals archive ?
Following Cancellation, the Members' Voluntary Liquidation will commence and a liquidator has been conditionally appointed.
As a result of such approval, the Company has now entered into the Members' Voluntary Liquidation and Jeremy Spratt and Finbarr O'Connell of KPMG LLP have been appointed joint liquidators for the purposes of the voluntary winding up of the Company.
The Board has therefore reluctantly decided that it is in the best interests of Shareholders to effect the Cancellation and will make arrangements for an orderly sale of assets and return of cash by way of a Members' Voluntary Liquidation, which will maximise the return to Shareholders.
Thomas O'Connor Liquidator 23 February 2015 NOTE: This is a Members' Voluntary Liquidation.
Therefore the quantum and timing of cash returned to shareholders through a members' voluntary liquidation is uncertain and may well be less than $1.
Dated this 16th Day of February 2015 Barry Clarke Liquidator This is a Members' Voluntary Liquidation.
Following the issuance by Xcyte of shares of its common stock to Cyclacel Group plc in exchange for all of the outstanding share capital of Cyclacel Limited, Cyclacel Group plc distributed the Xcyte stock received through a members' voluntary liquidation of Cyclacel Group plc under English law.
That the Company be wound up by way of Members' Voluntary Liquidation and that David Kearney of Kearney Curran Secretarial Limited, 41 Central Chambers, Dame Court, Dublin 2, Ireland, be and is hereby appointed Liquidator for the purpose of such winding up.
proposals for the members' voluntary liquidation of the Company and
Company will be placed into members' voluntary liquidation shortly
recommended proposals for the members' voluntary liquidation of the

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