compulsory liquidation definition

compulsory liquidation

Sale of the assets of a firm on court orders, issued at the request of the firm's creditors. In a compulsory liquidation, the unsecured creditors generally have the right to choose and appoint the liquidator. Called compulsory winding up in the UK.

compulsory liquidation is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.

compulsory liquidation appears in the definitions of the following terms: liquidation, members' voluntary liquidation and compulsory winding up

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