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23 Apr

Write a statement saying that the directors have assessed the company and believe it can pay its debts, with interest at the official rate.As the Director of a limited company, it is a relief to know that you are able to put your company into Voluntary Liquidation and make a fresh start, putting the past well and truly behind you.These lenders will seize the collateral and sell it—often at a significant discount, due to the short time frames involved.If that does not cover the debt, they will recoup the balance from the company’s remaining liquid assets, if any. These include bondholders, the government (if it is owed taxes) and employees (if they are owed unpaid wages or other obligations).You ship the goods to the Via Trading facility where they are processed into small lots and sold by the case or pallet to hundreds of buyers. Certain types of products may be most appropriate for liquidation through Via Trading’s monthly live auctions.Auctions feature no buyer’s premium and no reserve bidding; the fastest way to move quantities of product.In addition, the term "liquidation" is sometimes used when a company wants to divest itself of some of its assets.

The debts still exist in theory, at least until the statute of limitations has expired, but there is no debtor to pay them, so they must be written off in practice.

The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation) or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors, see below).

In United Kingdom and United States law and business, liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are redistributed.

Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.