Liquidation

The liquidation process that ends the company's existence after distributing its assets. A liquidator is an insolvency practitioner who liquidates a company.

Liquidation is the legal process of winding up a company’s affairs by selling its assets, settling liabilities, and distributing any remaining amounts to shareholders, after which the company ceases to exist.

- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.

- Example: Teams reference **Liquidation** when defining terms in manuals, policies, or training materials.

- Why it matters: Improves clarity and consistency across documentation and decision-making.