The company notifies its employees, its vendors, its creditors and its customers that it is closing up shop.It pays its taxes and fulfills its contractual obligations.
Why are Panel Trustees necessary for the Bankruptcy System? Chapter 7 bankruptcy is a liquidation legal proceeding.
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co.
Fund Scope|Scoreboard In a shocking failure of a fund, Third Avenue Management is liquidating its Third Avenue Focused Credit fund.
It can use the distribution channels it has always used to sell its products, with prices slashed so low that customers can't resist them.
The company may get more money for its inventory this way, but it may take longer to sell the products and receive payment.