Liquidation, also known as winding-up, refers to the process of distributing a company's assets among its creditors and members, which ultimately leads to the dissolution of the company. The process can be voluntary or court-ordered.
A person appointed to manage the winding-up process of a company, ensuring orderly asset distribution to creditors and members.
Voluntary liquidation, also known as voluntary winding-up, is a process where a company's directors choose to dissolve the company, usually to terminate its operations and distribute its assets.
