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Winding Up is a process of liquidation that occurs when a company is insolvent and unable to pay its debts. It is a form of bankruptcy, and involves the appointment of a liquidator to collect and sell the company's assets, and then distribute the proceeds to creditors. The winding up process is usually initiated by a court order, and the liquidator is responsible for ensuring that the company's assets are sold for the best possible price. The proceeds are then used to pay off creditors, with any remaining funds being distributed to shareholders.
The Winding Up market is a specialized sector of the bankruptcy industry, and involves the sale of assets from insolvent companies. Companies in this market include insolvency practitioners, asset recovery firms, and auction houses. These companies provide services such as asset valuation, asset recovery, and asset disposal. They also provide advice and assistance to creditors and shareholders during the winding up process. Show Less Read more
