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The debt will remain until the statute of limitation has expired, and as there is no longer a debtor to pay what is owed, the debt must be written off by the creditor.
In United Kingdom, Republic of Ireland and United States law and business, liquidation is the process by which a company is brought to an end.
The assets and property of the company are redistributed.
Voluntary liquidation begins when the company passes the resolution, and the company will generally cease to carry on business at that time (if it has not done so already).
A creditors’ voluntary liquidation (CVL) is a process designed to allow an insolvent company to close voluntarily.
As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims. The business is no longer in existence once the liquidation process is complete.
Unlike when individuals file for Chapter 7 Bankruptcy, the business debts still exist.
In the simplest terms, this means selling the position for cash; another approach is to take an equal but opposite position in the same security, for example, by shorting the same number of shares that make up a long position in a stock.
A broker may forcibly liquidate a trader’s positions if the trader’s portfolio has fallen below the margin requirement or she has demonstrated a reckless approach to risk-taking.
Liquidation in finance and economics, is the process of bringing a business to an end and distributing its assets to claimants. Solvent companies may also file for Chapter 7, but this is uncommon.Tags: Adult Dating, affair dating, sex dating