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.

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References in periodicals archive ?

Lumber Liquidators reminds Tilson of SodaStream, another stock on which he took a bullish stance and was too early.

Tilson: Why Lumber Liquidators Could Be The Next SodaStream

Anyone requiring information can contact the joint liquidator on 0161 837 1700 or at ashley.coates@begbies-traynor.com.

Deadline on horizon for Telecoms cash claims

The man, who has asked not to be named, said: "There are liquidators on site and security on site.

Liquidators in at holiday park

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.

Court appoints PwC, Deloitte as joint liquidators for Abraaj

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.

Tanzania appoints liquidator at FBME

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.

DejaVu Estate Liquidators Opens Hollywood Estate Sale to Public

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.

Fukushima liquidators to sue TEPCO for health risks compensation

Delvaux was provided with copy of the local liquidator's final report on liquidation of branches.

BCCI branches liquidation process completed

Canton Labour Club closed in September 2009 and its affairs are now being wound up by the joint liquidators.

Were you a club member? Yousay IN YOUR OPINION..

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.

No cash for dodgy builder's victims

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.