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Liquidation

liquidation, winding up

noun li-kwi-da-TSYON Rare
People & Society Money

Origin: from Latin 'liquidare' (to make clear)

Also means

settling of accounts

Usage Note

Liquidation is the legal process of dissolving a company by selling its assets and paying its debts before distributing remaining proceeds. A company in Liquidation appends 'i.L.' to its name. Not to be confused with Insolvenz (insolvency).

Examples

"Nach der Auflösung der GmbH übernahm ein Liquidator die Abwicklung."

Natural Translation

After the dissolution of the GmbH a liquidator took over the wind-down.

Literal Translation

After the dissolution of-the GmbH took-over a liquidator the winding-up.

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