Liquidation

Liquidation. As to liquidation by arrangement with creditors, see the repealed Bankruptcy Act, 1869 (32 & 33 Vict. c. 71), s. 125; but the procedure was not re-established by the Bankruptcy Act, 1883. The liquidation of joint stock companies is provided for by Part IV. of the Companies Act,1929. See next title and WINDING-UP....

liquidation

liquidation ...

Liquidation expenses principle

Liquidation expenses principle, is a statement of how, in general, the court will exercise its discretion in a common form set of circumstances, Lundy Granite Co. (in re:); Heavan Ex parte, (1871) LR 6 Ch. App 462; see also Oak Pits Colliery Co. (in re:), (1882) 21 Ch D 322....

Liquidator

Liquidator. A person appointed to conduct the winding-up of a company under the (English) Companies Act, 1929. Liquidators are of three kinds:--(1) Appointed by the court in a winding-up by the Court. pending appointment the Official Receiver in Bankruptcy is to act as Official Receiver and Liquidator in the winding-up (s. 185). By s. 186, in England, liquidators other than the Official Receiver must provide security to the satisfaction of the Board of Trade. His duties comprise the collection of the company's property, and this property or any part of it may vest in him on his application. He may bring or defend actions relating to that property in his own official name (s. 190). Powers which he may exercise subject to the sanction of the court or a Committee of Inspection are setout in s. 191(1); sub-s. (2) of that section gives a list of powers for which such sanction is not required. The duties of a liquidator are to collect, administer, and distribute the assets, having regard to ...

liquidated

liquidated 1 : settled or determined by liquidating see also liquidated damages at damage 2 : capable of being readily fixed, calculated, or ascertained as a sum esp. without dispute or reliance on opinion or discretion ...

liquidator

liquidator : one that liquidates ;esp : an individual appointed by law to liquidate assets compare receiver ...

Official liquidators

Official liquidators, officers appointed to conduct the proceedings and to assist the court in winding up a joint-stock company, (English) Companies Act, 1862, s. 92. See now (English) Companies Act, 1929, s. 185, replacing the (English) Companies (Consolidation) Act, 1908, ss. 149 et seq., where they are styled 'liquidators....

liquidate

liquidate -dat·ed -dat·ing vt 1 : to determine by agreement or litigation the precise amount of ;also : to settle (a debt) by payment or other adjustment 2 a : to determine the liabilities and apportion the assets of esp. in bankruptcy or dissolution [ a corporation] compare bankruptcy b : to convert (as assets) into cash [ an estate] vi : to liquidate something (as a corporation) liq·ui·da·tion [li-kwə-dā-shən] n ...

liquidity

liquidity : the quality or state of being liquid ...

Liquidness

The quality or state of being liquid liquidity fluency...

Liquidation - Law Dictionary Search Results