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When a bankruptcy court has ordered liquidation, the owners wait for the sheriff to come.
More recently, the Cayman Grand Court ordered liquidation of a locally registered fund run by Fletcher Asset Management after three Louisiana public pension funds brought a petition to wind up the Fletcher fund on "just and equitable" grounds.
Late last year, the Maqsudi family lost control of the Coca-Cola plant, the government ordered liquidation of the other business, and two cousins and an uncle of Mr. Maqsudi's were convicted on tax-violation and money-conversion charges.
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The next step is less clear: The court may order liquidation or give creditors a chance to reorganize the company and try to keep it a going concern.
A court in Seoul, meanwhile, ordered the liquidation of Dong Ah Construction, once Korea's second-largest builder.
Partly as a result of that campaign, a judge recently ordered the liquidation of one of the country's leading microlenders, Banco del Exito, or Success Bank.
The Cayman Grand Court sided with Aris in its decision issued Jan . 4 2011, and ordered the liquidation of the Heriot fund.
"Not on some analogical version of vicarious liability but because he personally ordered the liquidation of an enemy who was bent on exposing him and his cronies.
Philippine regulators ordered the liquidation of the country's largest steel maker, the National Steel Corporation, after the company's Malaysian owner rejected plans to refinance roughly $330 million in overdue debts.
A federal bankruptcy judge yesterday ordered the liquidation of the assets of Midway Airlines, a regional carrier for US Airways that had fought to stay in business despite filing for court protection from its creditors more than two years ago.
In court testimony here this summer, Mr. Maqsudi testified that officials with President Karimov's authoritarian regime had closed one of his businesses there, ordered the liquidation of another and sentenced three of Mr. Maqsudi's relatives to jail terms for what was termed corporate corruption.
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CEO of Professional Science Editing for Scientists @ prosciediting.com