- The term liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants.
- A bankrupt business is no longer in existence once the liquidation process is complete.
- Liquidation can also refer to the process of selling off inventory, usually at steep discounts.
What is liquation?
Jump to navigation Jump to search. Liquation is a metallurgical method for separating metals from an ore or alloy. The material must be heated until one of the metals starts to melt and drain away from the other and can be collected.
What is 'liquidation'?
What is 'Liquidation'. Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants.
What is the history of liquation?
The first known use of liquation on a large scale was in Germany in the mid-15th century. Metal workers had long known that Central European copper ore was rich in silver, so it was only a matter of time until a method was discovered that could separate the two metals.
Who is responsible for liquidation of a company?
A liquidator is authorized by the court, the company, or the insecure creditors to proceed with the liquidation process of the respective firm. Such an individual is responsible for raising money by selling the business assets. What happens when a company goes into liquidation? Going into liquidation means that the business entity ceases to exist.
What is liquation process for Class 10?
Liquation is a method of refining of metals and is used when the impurities are not miscible with the metal and the melting temperature of the metal is lower than that of the impurities.
What is purified by liquation process?
Lead, tin and bismuth are purified by the liquation method.
Which metals are refined by liquation?
Liquation is used for the refining of metals which are readily fusible, such as Pb, Sn, Bi and Hg as compared to impurities.
What is poling process in metallurgy?
Poling is a method used to purify metals that have oxidized impurities. It is typically used to purify metals like copper or tin that are in the impure form of a copper oxide or tin oxide. A log of wood which is still green is used to stir the liquid metal.
What is not refined by liquation?
Liquation process is used for the purification of the metal, which itself is readily fusible, but the impurities present in it are not, used for the purification of Sn and Zn, and for removing Pb from Zn-Ag alloy. Video Explanation.
What is roasting of ore?
Roasting is a process of heating a sulfide ore to a high temperature in the presence of air. It is a step in the processing of certain ores. More specifically, roasting is often a metallurgical process involving gas–solid reactions at elevated temperatures with the goal of purifying the metal component(s).
How do you remove impurities from gold?
Chlorine Gas Method – Miller Process The unrefined gold is first melted and then a stream of pure chlorine gas is blown over it, turning the impurities into salts that are then removed.
How do you remove impurities from metals?
These methods include:Distillation, which involves vaporizing the metal and then allowing it to solidify outside of the impurities.Liquation, which involves melting the metal, and allowing it to run out of the solid impurities.Poling uses a green log of wood to reduce oxidized metals.More items...•
Which methods are used for purification of metal?
Distillation: This method is used for the purification of metals which possess a low boiling point such as mercury and zinc....Some methods involved in the purification of crude metal are:Distillation.Liquation.Electrolysis.Zone refining.Vapour phase refining.Chromatographic methods.
What type of material is used in poling in metallurgy?
A metallurgical method employed in the purification of copper which contains copper oxide as an impurity and also in the purification of tin which contains tin oxide (stannic oxide or "SnO2") as an impurity.
What is Cupellation process?
Cupellation is a refining process in metallurgy where ores or alloyed metals are treated under very high temperatures and have controlled operations to separate noble metals, like gold and silver, from base metals, like lead, copper, zinc, arsenic, antimony, or bismuth, present in the ore.
What is poling in piezoelectric?
In order to make the material much more piezoelectric sensitive one has to initially orient such dipoles in the direction of the applied forces. This process of forcing the dipoles to orient them selves in a prescribed direction is called poling.
What is liquidation in business?
Liquidation, meaning the formal closure of either a solvent or insolvent company, is a straightforward process with a number of clear stages . In this article we’ll go through these all these types of liquidation in detail, so that you know just what to expect.
What does a liquidator do?
The liquidator sells any company assets and distributes process to creditors. As part of the liquidation process the insolvency practitioner will have to undertake a directorial investigation in order to check that no misfeasance took place in the period preceding liquidation.
What is compulsory liquidation?
Compulsory liquidations are preceded by a winding up petition which is a final demand letter which precipitates a court hearing. If the judge finds against the debtor company he/she rules a Winding up Order which places the company into immediate compulsory liquidation. Corporate bank accounts are frozen by the bank.
Who is the liquidator appointed by?
A liquidator is appointed by the Court (Official Receiver) who begins the liquidation process. If there are company assets to be sold, the Official Receiver’sduties will be taken on by a licensed insolvency practitioner to complete the process.
Does insolvency end in liquidation?
It’s important to point out that insolvency doesn’t always end in liquidation. Insolvency practitioners are also adept at business rescue, and there are a number of mechanisms to achieve this. (2) If liquidation is next, you’ll be faced with either a creditors voluntary liquidation (voluntary liquidation process) or a compulsory liquidation. ...
What is liquidation in finance?
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. As company operations end, the remaining assets are used to pay creditors and shareholders, ...
What is liquidation in stock market?
Liquidation can also refer to the act of exiting a securities position. In the simplest terms, this means selling the position for cash; another approach is to take an equal but opposite position in the same security—for example, by shorting the same number of shares that make up a long position in a stock.
What is the process of liquidation?
The general process for liquidation of the company is as follows, The directors and the shareholders are furnished with documents like proof of address and identity, list of creditor details – names and addresses. A number of meetings of shareholders and the creditors to conduct the process. Appointment of insolvency.
What is liquidation in business?
Liquidation is a process of winding up of a business or a segment of the business by selling off its assets to generate cash flow and use the cash flow to pay off the creditors and all other liabilities of the business in a specific order.
Overview
Process
The 16th-century process of separating copper and silver using liquation, described by Georg Agricola in his 1556 treatise De re metallica, remained almost unchanged until the 19th century when it was replaced by cheaper and more efficient processes such as sulphatization and eventually electrolytic methods.
Liquation requires that the silver-rich copper first be melted with approximately three times its we…
Separating copper and silver
The first known use of liquation on a large scale was in Germany in the mid-15th century. Metal workers had long known that Central European copper ore was rich in silver, so it was only a matter of time until a method was discovered that could separate the two metals.
Loss of metal
This process is not 100% efficient. At the Lautenthal, Altenau, and Sankt Andreasberg smelting-works in the Upper Harz between 1857 and 1860 25% of the silver, 25.1% of the lead and 9.3% of the copper was lost. Some of this is lost in slag that is not worth reusing, some is lost by what is termed ‘burning’, and some of the silver is lost to the refined copper. It is clear therefore that a constant supply of lead was needed to make up for that lost at various stages.
First instances
Liquation is first documented in the archives of the municipal foundry in Nuremberg in 1453. Nuremberg was one of Germany's main centres of metal refining and fabrication, and was a leader in metallurgical techniques. Five liquation plants soon sprang up around the city, and within 15 years had spread throughout Germany, Poland and the Italian Alps.
This is often regarded as the beginning of liquation, but evidence suggests liquation may have e…
Importance
John U. Nef, an expert on Renaissance economics, described liquation as ‘even more important than the invention of the printing press’ for the development of industry during this period. It increased production of silver on a massive scale. Between 1460 and 1530, the output of silver increased as much as fivefold in central Europe. This had a secondary effect of lowering the costs of producing copper at a time when its demand had increased due to the needs of the brassmaki…
What’s The Liquidation Process For An Insolvent Company?
- When people speak of liquidation it’s most commonly of an insolvent company so we’ll begin with that. (1) When a director becomes aware that the company is insolvent you’ll need to take professional advice immediately. ] It may be useful to speak with your accountant but ultimately you will need to use a licensed insolvency practitioner. Insolvency means you either: 1. Cannot p…
The Process of Voluntary Liquidation, Step by Step
- Shareholders vote to pass a resolution to wind up
- Company director’s powers cease
- Winding up Resolution is formally submitted to Companies House
- The creditors voluntary liquidation (CVL) is advertised in the London Gazette, the Official Journal of Public Record.
Compulsory Liquidation Process
- Compulsory liquidationsare preceded by a winding up petition which is a final demand letter which precipitates a court hearing. If the judge finds against the debtor company he/she rules a Winding...
- Corporate bank accounts are frozen by the bank
- A liquidator is appointed by the Court (Official Receiver) who begins the liquidation process.
- Compulsory liquidationsare preceded by a winding up petition which is a final demand letter which precipitates a court hearing. If the judge finds against the debtor company he/she rules a Winding...
- Corporate bank accounts are frozen by the bank
- A liquidator is appointed by the Court (Official Receiver) who begins the liquidation process.
- If there are company assets to be sold, the Official Receiver’sduties will be taken on by a licensed insolvency practitioner to complete the process.
Solvent Liquidation Process
- It is possible to close down a solvent limited company yourself but where there are significant assets the more tax effective method is to use a process known as members voluntary liquidation. The members voluntary liquidation (MVL) procedure works as follows: 1. Any business creditors are repaid 2. Directors sign what is called a Declaration of Solvency 3. Shareh…
What Is Liquidation?
How Liquidation Works
- Chapter 7 of the U.S. Bankruptcy Code governs liquidation proceedings. Solvent companies may also file for Chapter 7, but this is uncommon.1 Not all bankruptcies involve liquidation; Chapter 11, for example, involves rehabilitating the bankrupt company and restructuring its debts. In Chapter 11 bankruptcy, the company will continue to exist after any obsolete inventory is liquidated, afte…
Distribution of Assets During Liquidation
- Assets are distributed based on the priority of various parties’ claims, with a trustee appointed by the U.S. Department of Justice overseeing the process. The most senior claims belong to secured creditors who have collateral on loans to the business. These lenders will seize the collateral and sell it—often at a significant discount, due to the short time frames involved. If that does not cov…
Special Considerations
- Liquidation can also refer to the act of exiting a securities position. In the simplest terms, this means selling the position for cash; another approach is to take an equal but opposite position in the same security—for example, by shorting the same number of shares that make up a long position in a stock. A broker may forcibly liquidate a trader’s positions if the trader’s portfolio ha…