ExtendAssure

Password recovery form

04.05.2006 - Personalized customer care services are now also provided online
Extend Assure enables personalized, customer-oriented services to each individual member of Extend Assure

04.28.2006 - ExtendAssure.com - Direct Web access to Extend Assure services
Extend Assure now delivers Powerful Merchant Solutions accessible from virtually any geographic location.

Extend Assure is the top choice for my company as they are fast becoming a major player in Bailiff services. The Extend Assure tools and service gives us confidence and allows us to focus on company growth and not on day to day bad dept recovery.

Mr. Kevin Williams

(www.companyname.com)

Liquidation - Definition and related terms.

Liquidation, or winding up, refers to a business whose assets are converted to money.

The conversion may be coerced by a legal process to pay off the debt of the business, or to satisfy any other business obligation that the business has not voluntarily satisfied.

The conversion may also be a voluntary action carried out by the business owners.

There are two forms of liquidation:

compulsory (or Court ordered winding-up)
voluntary (creditors or members winding-up).

The purpose of a liquidation is to realise the assets of the company in order that the creditors of the company can be paid off.

Although the initial principle of liquidation was that the creditors would be paid off pari passu, there are now a number of classes:

debenture or fixed charge holders,
preferential creditors,
floating charge holders,
unsecured creditors.

Informally, liquidation may be use to refer to any rapid conversion of an asset into cash.

Back to collection of legal terms.