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Winding up a Business - investopedia.com

Winding up is the process of dissolving a company. While winding up, a company ceases to do business as usual. Its sole purpose is to sell off stock, pay off creditors, and distribute any remaining assets to partners or shareholders. The term is used primarily ……

Solvent and insolvent winding up of companies – what is ...

May 21, 2014 · A company that is commercially solvent is wound up in terms of section 80 or 81 of the 2008 Companies Act. If the company is commercially insolvent it is wound up in terms of the 1973 Companies Act. A company is factually insolvent if the company’s liabilities exceed its assets. But it may still be able to pay its debts.…

Liquidation - Wikipedia

Having wound-up the company's affairs, the liquidator must call a final meeting of the members (if it is a members' voluntary winding-up), creditors (if it is a compulsory winding-up) or both (if it is a creditors' voluntary winding-up). The liquidator is then usually required to send final accounts to the Registrar and to notify the court.…