Liquidating business usa

This is used, for instance, when a retail establishment wants to close stores.

Compulsory liquidation of a company requires obtaining a court order.

Liquidation (or "winding up") is a process by which a company's existence is brought to an end.

First, a liquidator is appointed, either by the shareholders or the court.

This process starts with an application to the court alleging that one or more of the required grounds exist.

The application may be brought by the company or a majority of its directors, or by the Registrar of Companies, or by a creditor.

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The liquidator represents the interests of all creditors.

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