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Individuals, partnerships or corporations can liquidate assets.
Here's how liquidation works in the case of bankruptcy.
We purchase all types of goods from all types of clients.
Ranging from the purchase of corporate assets from Insolvency Practitioners to Small Businesses and Individuals that are liquidating their stock. We make the process of clearing your stock as easy and fast as possible.
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Although this sounds harmless, in the corporate world the term often carries a connotation of failure, because it is most often used in discussions about Chapter 7 -- a section of U. bankruptcy law under which companies and individuals liquidate their assets in order to repay their debts.
In the end, if a company's stock or bonds are deemed worthless by the bankruptcy court, investors might be able to deduct their losses on their tax returns.
Source: Investing Answers is most often used in discussions about Chapter 7 bankruptcy -- a section of U. bankruptcy law under which companies and individuals liquidate their assets in order to repay their debts.
However, the steps preceding liquidation usually involve bankruptcy, which -- at the individual level -- virtually ruins a person's credit for several years, making it very difficult and expensive to borrow money.
For businesses, liquidation usually means closing for good and selling off the assets.
Individuals To file Chapter 7, the debtor files a petition with the local bankruptcy court.