Compulsory liquidation definition

Compulsory liquidation means involuntary official liquidation.
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Examples of Compulsory liquidation in a sentence

  • Compulsory liquidation or administration shall be treated as having occurred on the date upon a petition for the compulsory liquidation or administration of that entity is presented to the relevant authorities.

  • Compulsory liquidation of a company is when the company is ordered by a court to be wound up.

  • Compulsory liquidation is a result of a permanent loss of the insurer of the ability to perform insurance activities as well as insolvency and threat of bankruptcy, connected with it.It is important to emphasize that the issues of the insur- er bankruptcy are, in most countries in the world, sub- ject to separate legal regulations.

  • Compulsory liquidation or administration shall be treated as having occurred on the date upon a petition forthe compulsory liquidation or administration of that entity is presented to the relevant authorities.

  • Compulsory liquidation may be ordered in the manner provided for in paragraph 1 upon a reasoned request by the administrative bodies, the extraordinary shareholders' meeting, the provisional administrator appointed pursuant to Article 53, the special administrators or the liquidators.

  • Compulsory liquidation / Winding up order Creditors can take the company into liquidation (winding up order) if they apply to the court for a compulsory liquidation.

  • Compulsory liquidation (which is often called winding-up) is a procedure by which a liquidator, appointed by the Court, wind-ups the affairs of a company.

  • Compulsory liquidation and bankruptcy Duncan Moore has not been involved with companies that have declared bankruptcy, been placed in compulsory liquidation or put under receivership, in the past five years.

  • Compulsory liquidation or bankruptcy case, state oversight should have a greater role, as may be necessary to protect the interests of the participants.

  • Compulsory liquidation is a court-based procedure through which companies’ assets are realised for the benefits of their creditors.

Related to Compulsory liquidation

  • Liquidation means the distributions of the Trust Account to the Public Stockholders in connection with the redemption of the Common Stock held by the Public Stockholders pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, as amended, if the Company fails to consummate a Business Combination with the time period provided therein.

  • dissolution “insolvency”, or “reorganisation” of a company or corporation shall be construed so as to include any equivalent or analogous proceedings under the law of the jurisdiction in which such company or corporation is incorporated or any jurisdiction in which such company or corporation carries on business including the seeking of liquidation, winding-up, reorganisation, dissolution, arrangement, protection or relief of debtors;

  • self-liquidating paper means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or incurred by the Company for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship with the Company arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation.

  • Winding-Up means, with respect to the Issuer, a final and effective order or resolution for the bankruptcy, winding-up, liquidation, receivership or similar proceeding in respect of the Issuer (except for the purposes of a consolidation, amalgamation, merger or reorganisation the terms of which have previously been approved by an Extraordinary Resolution of the Noteholders); and

  • Reorganization with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

  • Net Orderly Liquidation Value means, with respect to Inventory of any Person, the orderly liquidation value thereof, net of all costs of liquidation thereof, as based upon the most recent Inventory appraisal conducted in accordance with this Agreement and expressed as a percentage of Cost of such Inventory.