Since then, creditors have been arguing over whether Blockbuster should be liquidated or sold.
If reorganization is impossible, the debtor should be liquidated under the Bankruptcy Act.
The giants' assets should be liquidated over time, or the entities broken up and privatised.
Its rivals assert that the company should be liquidated, with major assets sold to other companies.
They should be liquidated".Another line of attack, favoured by Mr LoPucki, blames the bankruptcy courts, especially the one in Delaware, whose restructured firms refile for bankruptcy more often than those in other jurisdictions.
In this case, a company is thus considered as insolvent when it files for bankruptcy or when a court decides it should be liquidated.
Rebgun had stated that a financial restructuring was impossible and the company should be liquidated.
However, there must be times when a company, even a big one, should be liquidated.
A judge in the Cayman Islands, where the fund is registered, ruled recently that the flagship fund was "very doubtfully solvent" and should be liquidated.
In its claim to the Russian Supreme Court, the ministry accused Jehovah's Witnesses of disseminating "extremist" pamphlets and said the center and all regional facilities should be "liquidated".
