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Eventually, the authorities decide to liquidate the Inauguration Service, and the question arises: Who should inaugurate the process of liquidation — an inaugurator or a liquidator?
"Should the application be approved, then Malcolm Cohen and James Bernard Stephen of BDO will be appointed liquidators of RFC 2012 plc, and will undertake the process of liquidation of the 'oldco' company and the continued recovery of funds for creditors".
In May, IDT took over management of the local telephone upstart Teligent, which is now in the process of liquidation.
Soriano met Sheikh Mansour bin Zayed al-Nahyan and Khaldoon al-Mubarak in Abu Dhabi but with his company, Spanair, in a process of liquidation, he declined.
Two of the eight, eToys and Bradlees, are in the process of liquidation.
And the government would arrange an orderly process of liquidation, an orderly burial but not a rescue.
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This process of hasty liquidation can cause even a previously solvent bank to fail.
In November, COC began the process of voluntary liquidation – without informing the cleaners, who continued to do their jobs, still without payment.
Saatchi says it had received repeated assurances from COC that the wages would be paid, even as the company was beginning the process of voluntary liquidation.
Mr. Linde, however, said Tuesday that if banks could not present sufficiently secure plans to raise their capital, a process of "orderly liquidation" would need to be considered.
This recidivism has led many experts to argue that there are efficiencies to be gained by tilting the process in favor of liquidation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com