Liquidator

(redirected from The Liquidator)
Also found in: Dictionary, Thesaurus, Legal.

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 ?
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.
Given the circumstances the Liquidators have requested that the Netherlands Authority for the Financial Markets in the Netherlands suspend trading of shares in CCC with immediate effect and until further notice.
Judge Finlay-Geoghegan added that the liquidator was not precluded from asking the court to extend that six-week period if it was required.
This action has purportedly been filed on behalf of Globe-X even though it was not authorized by PricewaterhouseCoopers, the liquidator of Globe-X in the Bahamas.
Although Far West Insurance Company is not subject to the Order and continues to operate under its present management, the Liquidator advised the Company it expects to offer for sale Far West Insurance Company in the future.
Information regarding existing reserves on the Kassandra properties, supplied by the Liquidator as part of the auction process and reviewed by TVX Gold personnel during their due diligence, indicates current reserves at Kassandra of approximately 14 million tonnes grading 6.
I AM writing to call for any member of Canton Labour Club at September 30, 2009, who has not received any letters from the liquidators to contact us before December 14, 2012.
The liquidators of Lehman Brothers have filed a contempt of court suit against Israel-based Bank Leumi (LUMI.
It is difficult to predict what the final outcome for creditors may be, but the first interim dividend is likely to be the largest dividend that the liquidators declare.
And as the chains withered and shrunk, they ended up in the hands of the liquidators - a group of highly specialized sales experts who, propelled by a soft economy, now find themselves as busy as ever.
The so-called "report," also referred to in the story as "the documents," consisted of nothing but the partisan views of the lawyers for the liquidators.
We are now working together with the Liquidators, not at cross-purposes, to pursue these assets.