Liquidation in bankruptcy
Liquidation in bankruptcy is the sale of the assets of a firm and the distribution of the proceeds to the creditors and owners in a specific priority.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Liquidation in bankruptcy. The sale of the assets of a firm and the distribution of the proceeds to the creditors and owners in a specific priority.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
