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liquidation
what is the difference between liquidation and winding up?
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Winding up a company is most commonly used to describe the process of the insolvent liquidation of a company. ... Winding up a company: This deals with ending business affairs and terminating company obligations before liquidation. Liquidation: This deals with the sale of the company's assets once it has closed.
Liquidation refers to closer of company and the process for the same known as Winding- Up.
so obligations here refer to completing the duties of company under pending contracts and settlement of liabilities also comes under liquidation? am I right?
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