Liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the Company redistributed. Liquidation is also sometimes referred to as Winding-Up or Dissolution, although Dissolution technically refers to the last stage of Liquidation.

Liquidation may either be compulsory (sometimes referred to as a creditors' voluntary liquidation) or voluntary (sometimes referred to as a Shareholders' or Members' Liquidation, although some voluntary liquidations are controlled by the creditors).

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