Bankruptcy Liquidation
/ˈbæŋkrʌptsi ˌlɪkwɪˈdeɪʃən/
Definitions
- (n.) A legal process in which a bankrupt debtor's assets are sold off to pay creditors.
The company underwent bankruptcy liquidation after failing to meet its financial obligations.
Forms
- bankruptcy liquidation
Related terms
See also
Commentary
Bankruptcy liquidation specifically refers to asset liquidation under bankruptcy law, distinct from reorganization procedures where the business continues operation.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.