Winding-up: Difference between revisions
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imported>Doug Williamson (Layout.) |
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1. A process whereby a company prepares for dissolution – the assets of the company are applied to discharge its liabilities and any surplus is returned to those who are entitled to it provided there is any excess remaining. | 1. | ||
A process whereby a company prepares for dissolution – the assets of the company are applied to discharge its liabilities and any surplus is returned to those who are entitled to it provided there is any excess remaining. | |||
2. ''Pensions''. | 2. ''Pensions''. | ||
The process of terminating a pension scheme, usually by applying the assets to the purchase of individual insurance contracts for the beneficiaries, or by transferring the assets and liabilities to another pension scheme. | The process of terminating a pension scheme, usually by applying the assets to the purchase of individual insurance contracts for the beneficiaries, or by transferring the assets and liabilities to another pension scheme. | ||
== See also == | == See also == | ||
* [[Declaration of solvency]] | * [[Declaration of solvency]] | ||
* [[Dissolution]] | |||
* [[Freezing]] | * [[Freezing]] | ||
* [[Liquidation]] | * [[Liquidation]] | ||
* [[London Gazette]] | * [[London Gazette]] | ||
* [[Preferential creditor]] | * [[Preferential creditor]] | ||
[[Category:Manage_risks]] | |||
Latest revision as of 21:53, 18 December 2020
1.
A process whereby a company prepares for dissolution – the assets of the company are applied to discharge its liabilities and any surplus is returned to those who are entitled to it provided there is any excess remaining.
2. Pensions.
The process of terminating a pension scheme, usually by applying the assets to the purchase of individual insurance contracts for the beneficiaries, or by transferring the assets and liabilities to another pension scheme.
