Liquidating business definition Kostenlos cam2cam sexrolette

In this case, a receiver may be required to file a final statement accounting for the distributed and remaining business assets and expenses of liquidation in order to receive a final settlement order from the receivership court.

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There are professional appraisal firms whose routine business it is to value business assets.

They appraise all manner of inventories and equipment daily and have an enormous depth of expertise.

The owner can then assign the remainder to a specialist who will sell everything else and dispose as waste or scrap what cannot be moved.

In a bankruptcy liquidation under Chapter 7 of the bankruptcy law a court-appointed trustee will oversee the process and make crucial decisions.

Thus an owner selling his or her business for cash as a going concern is technically liquidating it—but in usual parlance the term is applied only to a situation where a business is closed and all of its assets are sold.

This may happen voluntarily or involuntarily; the owner may simply decide to stop doing business, puts a "Closed" sign on the shop or a message to that effect on his or her answering service, and proceeds to sell everything; alternatively the owner finds him- or herself forced into liquidation to pay off a foreclosed loan or, alternatively, assets are insufficient to cover debt and Chapter 7 bankruptcy liquidation is necessary.

The owner usually can and sometimes does set aside equipment to be held indefinitely or for sale by him- or herself.

By the nature of their contacts, owners may have ideal clients for certain kinds of equipment.

A business liquidating voluntarily and in an orderly fashion will almost always discover that its creditors, customers, and vendors will be cooperative. If in the midst of such a process the miraculous turn-around event actually takes place, reversing course will also be easier.

Once a decision to liquidate has been reached, the business needs to be closed, employees discharged, and company assets must be secured and inventoried.

The earlier the owner realizes that liquidation cannot be avoided, the more resources will be present to liquidate with least pain.

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