In legal terms, to go into liquidation means to turn over one's assets and accounts to a trustee. This is done so that that the numerous monetary amounts pertaining to the indebtedness of one may be determined authoritatively, and so that the assets can go through a process of discharge.
To go into liquidation simply means the termination of a business or enterprise by putting it's assets on sale, and allocating the earnings to settle present liabilities and the claims of the creditors. The debts are then prioritised and paid off and the remains of the assets are allocated on a pro rata basis to the owners or those who hold company shares.
To go into liquidation simply means the termination of a business or enterprise by putting it's assets on sale, and allocating the earnings to settle present liabilities and the claims of the creditors. The debts are then prioritised and paid off and the remains of the assets are allocated on a pro rata basis to the owners or those who hold company shares.