Liquidation
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Last updated 10:45 AM on 9/15/24
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4 Terms
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Liquidation
Liquidation happens when a business is no longer able to pay its debts (it has become insolvent), and an independent person called a liquidator is appointed to take control of the company.
all assets are turned into cash
Liquidator sells companies assets in order to pay creditors
Finally shareholders get what’s left, may not be any left
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