voluntary liquidation
noun [C or U] (also voluntary winding up) FINANCE, LAWDefinition
› a situation in which a company decides to stop operating, sell its assets, pay its debts, and give back any remaining money to shareholders: Approval will be sought at the meeting to put the company into voluntary liquidation. → Compare compulsory liquidation, involuntary liquidation
(Definition of voluntary liquidation noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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voluntary winding up noun
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volunteer adjective
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