Define non liquidating assets


21-Jan-2018 00:08

define non liquidating assets-22

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This would come under the heading of “Involuntary Liquidation” Insolvency is the term used to describe a company’s situation – i.e.

a company is insolvent when it is unable to meet it’s debts when they fall due, and/or when their liabilities exceed their assets.

Company Liquidation may be by means of: Members Voluntary Liquidation – where assets exceed liabilities Creditors Voluntary Liquidation – where there are insufficient assets to cover the liabilities.

A Liquidator is appointed to administer the liquidation of the company’s assets and to distribute the proceeds to creditors in accordance with law There are also Court Liquidations.