Define non liquidating assets
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.