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 ?
Lumber Liquidators reminds Tilson of SodaStream, another stock on which he took a bullish stance and was too early.
Anyone requiring information can contact the joint liquidator on 0161 837 1700 or at ashley.coates@begbies-traynor.com.
The man, who has asked not to be named, said: "There are liquidators on site and security on site.
It further added, 'Michael Jervis, Partner at PwC and one of the Joint Provisional Liquidators appointed in respect of Abraaj Holdings, said of the appointment, 'Our role as Joint Provisional Liquidators is to manage the restructuring of Abraaj Holdings in an orderly fashion, safeguard the assets of the company, and ensure that the interests of creditors, employees and broader stakeholders are fully served.
The decision of Bank of Tanzania came as a Cypriot court was expected to rule on the Central Bank of Cyprus's application for the appointment of a liquidator at its Cypriot branch.
DejaVu Estate Liquidators professional team with over 15 years experience, has been chosen and trusted by families, healthcare facilities, retirement communities, attorneys, bank trustees, and realtors throughout South Florida.
"It's a really great feeling to help home and business owners affected by these storms," said Dmitry Lipinskiy, CEO of Ice Dam Liquidators. "Our team of ice dam technicians are ready to help as many Bostonians as we can!"
The liquidators working at Fukushima are employed by multiple subcontracting organizations, but they see TEPCO as responsible for controlling the safety and providing adequate remuneration for duties performed.
Delvaux was provided with copy of the local liquidator's final report on liquidation of branches.
Canton Labour Club closed in September 2009 and its affairs are now being wound up by the joint liquidators.
Struck off: Connelly CREDITORS ripped off by dodgy builder Stephen Connelly are still waiting for their money back - despite cash being returned to the liquidators.
Princeton Realty Group, LLC negotiated a 10-year, 6,000 s/f lease for Flooring Liquidators, a local business leader braced for transition to a national chain.