winding-up

winding-up
The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures - a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a compulsory winding up by the court. Once the process starts the company is administered by a liquidator who disposes of all assets, and distributes the remainder to members or creditors. When the process is complete, the company is struck off the Companies Register and ceases to exist.

Easyform Glossary of Law Terms. — UK law terms.


winding-up
+ winding up, Also known as wind up.
USA
The process before dissolution of a business which involves selling all of its assets, paying off creditors, and distributing any remaining proceeds to shareholders.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • winding up — n. Concluding the affairs of a corporation or partnership that is being liquidated, including paying off debts and distributing the remaining assets. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney… …   Law dictionary

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  • Winding — Wind ing, n. 1. A turn or turning; a bend; a curve; flexure; meander; as, the windings of a road or stream. [1913 Webster] To nurse the saplings tall, and curl the grove With ringlets quaint, and wanton windings wove. Milton. [1913 Webster] 2.… …   The Collaborative International Dictionary of English

  • Winding — bezeichnet: den Familienname folgender Personen: Andréas Winding (1928–1977), französischer Kameramann Kai Winding (1922–1983), US amerikanischer Jazzposaunist dänischer Herkunft den Namen folgender Person: Nicolas Winding Refn (* 1970),… …   Deutsch Wikipedia

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  • Winding — Wind ing, n. [From {Wind} to blow.] (Naut.) A call by the boatswain s whistle. [1913 Webster] …   The Collaborative International Dictionary of English

  • Winding — Wind ing, a. [From {Wind} to twist.] Twisting from a direct line or an even surface; circuitous. Keble. [1913 Webster] …   The Collaborative International Dictionary of English

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  • winding — ► NOUN 1) a twisting movement or course. 2) a thing that winds or is wound round something. ► ADJECTIVE ▪ having a twisting or spiral course …   English terms dictionary

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