A liquidating

Liquidating leads to dissolving the company, and bringing all activity to a close.

It is a way for a business that has run out of funds to cover any remaining debts.

The main reason a business would choose to liquidate their assets is due to insolvency.

Insolvency essentially means that a business reaches a point where it is not able to make necessary payments when they are due.

Choosing liquidation converts the business assets to cash, which is then used to make these payments.

Liquidation typically occurs when a limited company has reached a point where, for one reason or another, it has been decided that the business will not continue.With over 12 years of specialization in the liquidation industry, Viatrading and Liquidate Now offer unparalleled exposure for your goods both domestically and internationally to a database of over 130,000 wholesale liquidation buyers and a mailing list of 200,000 opt-in subscribers.Liquidate Now offers you a tried and trusted channel through which to sell your obsolete or unwanted goods without interfering with your current sales channel(s).After confirmation and appointment, the liquidation trustee then serves as the liquidation trust's representative and is responsible for complying with the trust agreement (and confirmation order), liquidating the assets and making distributions to trust beneficiaries. This necessitates a liability policy and/or an indemnity agreement to protect the liquidation trustee from errors and omissions. As a "trustee," a liquidation trustee has potential exposure for numerous liabilities. The liquidation trustee in essence has the duties and responsibilities of a state law trustee, including fiduciary duties to the liquidation trust. Liability for such errors and omissions is not necessarily limited to such insurance proceeds.

Leave a Reply