Liquidator


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

liquidator

see LIQUIDATION, INSOLVENCY.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Yesterday afternoon Ms Justice Caroline Costello said she was satisfied to appoint insolvency practitioner Mr Declan McDonald of PriceWaterhouseCoopers as provisional liquidator to the Coast Stores Ireland Ltd.
The court on June 18, 2018, made an order appointing Simon Conway of PwC Corporate Finance and Recovery (Cayman) Limited, as well as Michael Jervis and Mohammad Farzadi, also from PwC, as joint provisional liquidators (JPLs) of Abraaj Holdings.
The post Judge Ioannides recused from Tanzanian liquidator's application case (Update) appeared first on Cyprus Mail .
The FLSP Rules describes the liquidator as an officer of the court who has the principal duty of preserving and maximizing the value and recovering the assets of the debtor.
CQS would be using Orc Liquidator as the cornerstone of its trading and arbitrage activities for a diverse set of global markets and cross-border opportunities.
In a first reaction, Chris Iacovides, the special administrator of the FBME Cyprus branch, said that the Tanzanian authorities' move is likely to make matters worse for depositors as, should the Cypriot court appoint a liquidator, this may lead to a complicated legal battle between the Cypriot and Tanzanian liquidators.
MP for Selebi-Phikwe West, Mr Dithapelo Keorapetse had asked him to state the number of workers engaged by the BCL Liquidator at both BCL Phikwe and Tati Nickel mines and clarify if the said workers were unionised.
Speaking at the National Motorcycle Museum to members of R3, the association for business recovery professionals, he said: 'When a business is forced to dissolve, liquidators sometimes fail to identify the IP rights for which they are responsible.
He said the liquidator had also engaged 34 permanent and two temporary workers at Tati Nickel Mine, while six foreign employees were employed in the field of engineering, design draughtsman, team leader, technical advisory engineer and general manager in the field of environment.
Dated this 16th October 2017 Aidan Rourke, Liquidator Freightwest Logistics Limited NOTE: Every member entitled to attend and vote at the meeting is entitled to appoint a Proxy to attend, speak and vote on his behalf.