Last Rights: Liquidating a Company (Financial Management Association Survey and Synthesis Series)

## Abstract This book examines the business liquidation process — the winding up of the affairs of a company that has either decided voluntarily to liquidate or been forced to liquidate by its creditors. The contributors to the book have substantial hands-on experience in the reorganization and liquidation of businesses, the sale of business assets, and management of commercial litigation. They share their approach to maximizing and creating value in the deteriorating and chaotic business environment that so often leads to a company going out of business. The legal forums for liquidation — bankruptcy, state receivership, federal receivership, and assignment for the benefit of creditors — are explained. The liquidator's role, powers, duties, oversight, and compensation are outlined and the special rules for bankruptcy trustees are set forth. The chapters also cover the major tasks of liquidation including investigation of the company, termination of employees, disposition of assets, evaluation of litigation, resolution of claim, distributions and ultimately, and the dissolution or “winding down” of the company.

This book deals with the end-game for a business. No business entity lasts forever and anyone faced with the task of liquidating a business at the end of its run needs to know that a liquidation doesn't present an insurmountable problem. In fact, substantial value is often overlooked. This book explains the various options for liquidations and the pros and cons for each possibility. The book also can be used as a clear how-to guide for someone who wishes to undertake the job of a liquidator or trustee. From start to finish, the book lays out the steps and pitfalls in liquidations.

This book explains in clear and concise language how to wind-down and bring to successful conclusion the liquidation of a company, where to find hidden values, and what problems to look for. The mystery and legalize is cut through and a simple, understandable guide is provided for the various ways of liquidating a company. In clear and concise language, this text explains how to wind-down and bring to successful conclusion the liquidation of a company, where to find hidden values, and what problems to look for