Winding-Up Order
/ˈwaɪndɪŋ ʌp ˈɔːrdər/
Definitions
- (n.) A court order directing the winding up (liquidation) of a company’s affairs, typically to satisfy creditors by selling assets and distributing proceeds.
The court issued a winding-up order after the company failed to pay its debts.
Forms
- winding-up order
- winding-up orders
Related terms
See also
Commentary
Commonly issued following a creditor's petition; understanding jurisdiction and grounds is critical in drafting and litigation.
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.