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3 Types Of Liquidations:
Members voluntary liquidation- With this liquidation process, all existing owners or shareholders unanimously agree on the value of the assets to be sold off exceeds the amount of debt that is owed.
Creditors voluntary liquidation- Same as above except the amount of debt that is owed exceeds the total value of the companies assets that are to be sold off.
Compulsory liquidation - This is a court ordered liquidation. Control of the company and all assets are handed over to a receiver, who is ordered to process the actual inventory liquidation.
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