Liquidation

{
  "id": "MLC-T-LAW-000138",
  "term": "Liquidation",
  "field": "Law",
  "definitions": [
    "The process of winding up a company or firm by selling its assets to pay off creditors and distributing any remaining proceeds to shareholders or partners. This can occur voluntarily or involuntarily, such as through bankruptcy proceedings. Chapter 7 bankruptcy in the United States is a common form of liquidation.",
    "The sale of a debtor's property with the proceeds generally used for the benefit of creditors."
  ],
  "references": [
    "U.S. Courts Glossary of Legal Terms"
  ],
  "url": "https://mlchart.com/terminology/law/liquidation/"
}