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Applies to companies or partnerships.
In general, liquidation has two main purposes:
There are 2 basic types of liquidation -
The placing of a company into liquidation as a result of an application to the court, usually by a creditor. The Official Receiver is always the initial liquidator and conducts the investigation of the directors' conduct.
A method of liquidation not involving the courts or the Official Receiver. There are 2 types of voluntary liquidation:
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