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See: liquidate
References in classic literature ?
A distinguished gentleman of this city, H H , Esquire, having been compelled to SUSPEND, in consequence of the late robbery of the Bank of the United States by the cold-blooded miscreant whose hoary head disgraces the White House, felt himself bound to return an article of dress, purchased as recently as yesterday by his lovely daughter, and who, in every respect, was entitled to wear it, as she would have adorned it, receiving back the price, with a view to put it in the fund he is already collecting to meet the demands of his creditors.
The reputation of the affair of the pocket-handkerchief was of great service, and creditors relented as they thought of the hardship of depriving a pretty girl of so valuable an appliance.
The next morning they are at their penitentials again; and perhaps the poor weeping wife comes over to him, either brings him some account of what his creditors are doing, and how she and the children are turned out of doors, or some other dreadful news; and this adds to his self-reproaches; but when he has thought and pored on it till he is almost mad, having no principles to support him, nothing within him or above him to comfort him, but finding it all darkness on every side, he flies to the same relief again, viz.
Her husband had been a captain of a merchant ship, and having had the misfortune to be cast away coming home on a voyage from the West Indies, which would have been very profitable if he had come safe, was so reduced by the loss, that though he had saved his life then, it broke his heart, and killed him afterwards; and his widow, being pursued by the creditors, was forced to take shelter in the Mint.
He tried his new uniform, which became him very handsomely, on the day when the first meeting of the creditors of the unfortunate gentleman took place.
We are quiet here; we don't get badgered here; there's no knocker here, sir, to be hammered at by creditors and bring a man's heart into his mouth.
On this occassion representatives of PwC have also presented their findings and opinion audit to the members of the Temporary Creditors Council.
Nonpayment of the creditors claim is one such risk.
Summary: Trade creditors often face the issue of whether they are required to continue providing goods or services on credit to a customer that has filed .
One can easily see why developing a good rule here has been hard to achieve: A rule that facilitates creditor intervention in the debtor's operations beyond the creditor's ordinary collection on a defaulted loan can induce creditors to intervene perniciously, to shift value to themselves even at the price of mismanaging the debtor.
Restructuring is meant to be the company's rescue from bankruptcy, meeting creditors' interests in the company and forming the conditions that enable the company to duly perform to its duties with regard to the creditors, to preserve and further develop operations, to return debts and restore solvency.
Delta Air Lines set a February 7 hearing to begin seeking approval from creditors to exit bankruptcy as a stand-alone carrier, according to a court document.