'liquidation proceedings' is correct and usable in written English.
It refers to the legal process of liquidating the assets of a firm or other legal entity. For example: "The company was placed in liquidation proceedings due to its financial insolvency."
Modern bankruptcy laws provide for the initiation of liquidation proceedings upon petition by either the bankrupt himself or his creditors.
Liquidation proceedings are often referred to as "straight" bankruptcy, in contradistinction to other insolvency proceedings aiming at arrangements or reorganizations.
The restriction of bankruptcy legislation to persons engaged in commerce created a need for liquidation proceedings applicable to other debtors.
As mentioned above, the Siete Partidas contained provisions for voluntary liquidation proceedings applicable to all classes of debtors.
As a result, Spanish law developed two classes of liquidation proceedings, one for merchants and one for nonmerchants.
In Switzerland institution of liquidation proceedings likewise can be based on cessation of payments or on the commission of other specified acts of bankruptcy.
Announce that the administration will not support any orderly liquidation authority (OLA) proceedings under Title II of Dodd-Frank while Treasury continues its review.
During the New Deal era, the bankruptcy laws included Section 77 for railroads, Chapters X and XI for other corporations and liquidation, reorganization and composition proceedings for individuals.
The Spanish law is intended to promote restructuring of viable firms but in practice most insolvencies end in liquidation after lengthy court proceedings.
8. Any Nominee that (a) has ceased trading or is subject to liquidation, administration or similar proceedings; (b) has been subject to a change in management, ownership or control since their nomination; or (c) cannot be located or contacted by GNM; shall be disqualified and shall not be eligible for a prize.
Any Entity or Group that (a) has ceased trading or is subject to liquidation, administration or similar proceedings; (b) has been subject to a change in management, ownership or control since their nomination; or (c) cannot be located or contacted by GNM; may at the sole discretion of GNM be disqualified from the Awards and thereafter will not be eligible for an Award.
