Liquidating business assets total china dating sites
Individuals, partnerships or corporations can liquidate assets.Here's how liquidation works in the case of bankruptcy.These example sentences are selected automatically from various online news sources to reflect current usage of the word 'liquidate.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. What It Is In the financial world, to liquidate something means to sell it for cash.Although this sounds harmless, in the corporate world the term often carries a connotation of failure, because it is most often used in discussions about Chapter 7 -- a section of U. bankruptcy law under which companies and individuals liquidate their assets in order to repay their debts.However, the steps preceding liquidation usually involve bankruptcy, which -- at the individual level -- virtually ruins a person's credit for several years, making it very difficult and expensive to borrow money in the future.For businesses, liquidation usually means closing for good and selling off all the assets.The judge can deny the discharge if the debtor failed to keep adequate records, failed to explain the loss of any assets, committed a crime, disobeyed court orders, or did not seek credit counseling.
In the case of bankruptcy, when and how a borrower liquidates assets is a big deal.Businesses The procedure for filing Chapter 7 bankruptcy is very similar for businesses.