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Encyclopedia Britannica - Main :: LEO-LOB |
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LIQUIDATION (i.e. making " liquid " or clear) , in law, the clearing off or settling of a debt
bankruptcy law to define the method by which, under the Bankruptcy Act 1869, the affairs of an insolvent debtor were arranged and a composition accepted by his creditors without actual bankruptcy. It was abolished by the Bankruptcy Act 1883 (see BANKRUPTCY). In a general sense, liquidation is used for the act of adjusting debts, as the Egyptian Law of Liquidation, July 1880, for a general settlement
Egypt
company
company
property
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