Business Terms and Jargon Explained
What is Winding up
This is a process under the Insolvency Act 1986, where a company ceases trading either voluntary or is ordered to by the UK courts. A liquidator would be appointed to disposes of the assets and collect money from the debtors to be distributed to the creditors, employees and shareholders. The company’s liquidation will be recorded at companies’ house on the register.
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Term created / updated 2005-07-16 23:12:15
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