Agreement and Plan of Reorganization and Liquidation by Niagara Share Corp. and Scudder Investment Trust
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FAQ
Liquidation is the process by which an entity converts its assets to cash or other assets and settles its obligations with creditors in anticipation of ceasing all operating activities.
Liquidate means to turn non-liquid assets, like stocks, bonds, real estate, etc., into cash. The term is most commonly used when a business is going bankrupt and selling all its assets or when an investor or trader sells off a specific position (or less commonly, their entire portfolio).
Verb (used with object), liq·uiA·datA·ed, liqA·uiA·datA·ing. to settle or pay (a debt): to liquidate a claim. to reduce (accounts) to order; determine the amount of (indebtedness or damages). to convert (inventory, securities, or other assets) into cash.
Liquidation often refers to the process whereby a business folds up and I sell its free or unpledged assets out. The proceeds of this sale are afterwards used to pay the business' debts.From another point of view, liquidation could mean the transfer of valuables or potential assets into monetary form. .
Plan of Liquidation means a plan (including by operation of law) that provides for, contemplates or the effectuation of which is preceded or accompanied by (whether or not substantially contemporaneously) (i) the sale, lease, conveyance or other disposition of all or substantially all of the assets of the referent
When a company goes into liquidation its assets are sold to repay creditors and the business closes down.The overall aim of an insolvent liquidation process is to provide a dividend for all classes of creditor, but it is often the case that unsecured creditors receive little, if any, return.
In that process, the corporation notifies creditors of the impending cessation of business and does all acts appropriate to liquidate its business, such as collecting and selling assets, discharging liabilities, and distributing any remaining assets to shareholders.6 The corporation may, but is rarely required to,
Talk to your lawyer & accountant. Scrutinize your assets: inventory, assess, & prepare each item for sale. Secure your merchandise. Establish the liquidation value of your assets. Make certain that a sale is worthwhile. Choose the best type of sale for your merchandise. Select the best time for your sale.