Liquidator


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Liquidator

Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts.

Liquidator

In bankruptcy, a person placed in charge of a company sometimes by creditors or shareholders, but often by court order who must oversee the winding down of operations and sell all assets. As the liquidator sells off assets, he/she uses the proceeds to pay creditors, starting with secured creditors, by giving them proceeds from sold collateral, followed by unsecured creditors. If there is any money remaining, the liquidator distributes this to the shareholders, if any, or the owner. The liquidator is paid a fee for these services. See also: Receivership.

liquidator

see LIQUIDATION, INSOLVENCY.
References in periodicals archive ?
Under Guernsey law, the Liquidators are now responsible for realising the assets and establishing the liabilities of CCC and are legally empowered to act on its behalf in those connections.
ASIC obtaining Court orders prohibiting the re-registration of Melbourne liquidator, Andrew Leonard Dunner
Liquidators must faithfully perform their duties and adhere to the law.
Haymarket Pty Ltd Liquidator appointed: Mark Englebert of FTI Consulting
Yesterday, Mr McKinnon said: "Any fees I draw as liquidator are approved by the creditors.
And, with liquidators PricewaterhouseCoopers expecting to achieve eventual payouts worth up to 6.
ASIC Commissioner John Price said, 'ASIC will take strong action against registered liquidators who neglect their responsibilities and obligations.
Earlier, counsel for the liquidator Gary Lennon said since revised statements of affairs had been provided by the Gilsons he was no longer seeking attachment and committal of the pair.
Orc Liquidator allows the rapid deployment of custom trading strategies at a processing speed of over 20,000 orders per second with sub-millisecond latency.
effect in order for the Company to be passed to the Liquidators for formal
LONDON -- The Joint Liquidators of Stanford International Bank Ltd - in Liquidation (SIB), Nigel Hamilton-Smith and Peter Wastell of Vantis Business Recovery Services, wish to provide an update in relation to SIB.
Lumber Liquidators has been a major sponsor of the No Barriers Summit since the inaugural event in 2007.