In liquidating a
We struggled out to the open air and the bright sunshine, and for the space of thirty minutes received ragged Arabs by couples, dozens and platoons, and paid them bucksheesh for services they swore and proved by each other that they had rendered, but which we had not been aware of before--and as each party was paid, they dropped into the rear of the procession and in due time arrived again with a newly-invented delinquent list for , but remaining unliquidated through a combination of circumstances, I have been under the necessity of assuming a garb from which my natural instincts recoil - I allude to spectacles - and possessing myself of a cognomen, to which I can establish no legitimate pretensions.of the house of Nucingen, and died of grief, leaving nothing behind him but a dozen fine pictures which adorned his daughter's salon, and a few old-fashioned pieces of furniture, which she put in the garret.If the Official Assignee is the liquidator, creditors can log in to the Insolvency and Trustee Service website to access regular updates on the progress of the liquidation at any time after the first report has been filed.
If the business is closed, your employment will end.
If a dividend is likely to be paid then six-monthly update reports will also be sent.
A final report is sent at the end of the liquidation.
Although this sounds harmless, in the corporate world the term often carries a connotation of failure, because it is most often used in discussions about Chapter 7 -- a section of U. bankruptcy law under which companies and individuals liquidate their assets in order to repay their debts.
Individuals, partnerships or corporations can liquidate assets.
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Unsecured creditors can’t take legal action against a company in liquidation or deal with its property unless they have permission from the Court or the Liquidator.