What is a liquidating trust hd sexyang bankok
Liquidation can also refer to the process of selling off inventory, usually at steep discounts.It is not necessary to file for bankruptcy to liquidate inventory.These lenders will seize the collateral and sell it—often at a significant discount, due to the short time frames involved.
The most senior claims belong to secured creditors, who have collateral on loans to the business.
This is not the same as its debts being discharged, as happens when an individual files for Chapter 7.
The debts still exist in theory, at least until the statute of limitations has expired, but there is no debtor to pay them, so they must be written off in practice.
The court may appoint an official receiver, and one or more liquidators, and has general powers to enable rights and liabilities of claimants and contributories to be settled.
Separate meetings of creditors and contributories may decide to nominate a person for the appointment of liquidator and possibly of supervisory liquidation committee.Liquidation can also refer to the act of exiting a securities position.