| 单词 | LIQUIDATION |
| 释义 | Ending a company’s existence, selling all unpledged company assets for cash, paying all debts to unsecured creditors, and distributing remaining cash to stockholders. The secured creditors own respective pledged assets on obtaining foreclosure orders. This process begins either as a voluntary liquidation by shareholders or as a compulsory liquidation by creditors with the court’s permission. |
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法律词典收录了41026条英汉双解法律词条，基本涵盖了常用法律英语单词及短语词组的翻译及用法，是法律学习的有利工具。