Test yourself

Decide the correct order of the description of company liquidation.


1. 
its debts, its creditors make an application for compulsory liquidation. However, the company's members can decide voluntarily to
to an end, the company goes into liquidation, in some jurisdictions called winding up or dissolution. When the company is unable to pay
wind up the affairs of the company because they believe that
when a company's existence is brought




2. 
its debts, its creditors make an application for compulsory liquidation. However, the company's members can decide voluntarily to
to an end, the company goes into liquidation, in some jurisdictions called winding up or dissolution. When the company is unable to pay
wind up the affairs of the company because they believe that
when a company's existence is brought




3. 
its debts, its creditors make an application for compulsory liquidation. However, the company's members can decide voluntarily to
to an end, the company goes into liquidation, in some jurisdictions called winding up or dissolution. When the company is unable to pay
wind up the affairs of the company because they believe that
when a company's existence is brought




4. 
its debts, its creditors make an application for compulsory liquidation. However, the company's members can decide voluntarily to
to an end, the company goes into liquidation, in some jurisdictions called winding up or dissolution. When the company is unable to pay
wind up the affairs of the company because they believe that
when a company's existence is brought




5. 
is appointed to gather in all the company's assets and settle all claims
against the company. If there is any surplus after paying off all the creditors of the company,
the company will soon become insolvent. Then voluntary liquidation occurs. Where a company goes into liquidation, normally a liquidator
this surplus is then distributed to the members.




6. 
is appointed to gather in all the company's assets and settle all claims
against the company. If there is any surplus after paying off all the creditors of the company,
the company will soon become insolvent. Then voluntary liquidation occurs. Where a company goes into liquidation, normally a liquidator
this surplus is then distributed to the members.




7. 
is appointed to gather in all the company's assets and settle all claims
against the company. If there is any surplus after paying off all the creditors of the company,
the company will soon become insolvent. Then voluntary liquidation occurs. Where a company goes into liquidation, normally a liquidator
this surplus is then distributed to the members.




8. 
is appointed to gather in all the company's assets and settle all claims
against the company. If there is any surplus after paying off all the creditors of the company,
the company will soon become insolvent. Then voluntary liquidation occurs. Where a company goes into liquidation, normally a liquidator
this surplus is then distributed to the members.