winding up
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. . 2008.

winding up
an alternative term for the liquidation of a company, the process of bringing to an end the existence and affairs of the company. Companies may be wound up either voluntarily at the motion of either members or creditors or by the court or under the supervision of the court. The winding up is conducted by a liquidator appointed by the court.

Collins dictionary of law. . 2001.

winding up
1) The process of liquidating or closing down a corporation, limited liability company, or partnership. Typically this involves paying off expenses and creditors, settling accounts, and collecting and distributing (to shareholders and owners) whatever assets then remain.
2) With respect to an estate or trust, gathering assets, paying debts, and distributing property to those entitled to inherit it. (See also: personal representative)
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Business, LLCs & Corporations → Buying or Selling a Business
Category: Personal Finance & Retirement → Taxes → Tax Audits
Category: Wills, Trusts & Estates → Estates, Executors & Probate Court

Nolo’s Plain-English Law Dictionary. . 2009.

winding up
+ winding up, Also known as wind up.
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.

winding up
v. The process of dissolving a partnership or corporation by collecting all assets and outstanding income, satisfying all the creditors claims, and distributing whatever remains (the net assets). These may be distributed as cash or in kind, first to preferred stockholders, if any, and then to remaining shareholders, if any, pro rata. Winding up is in anticipation of a company's dissolution.
See also liquidate.

Webster's New World Law Dictionary. . 2000.

winding up
   liquidating the assets of a corporation or partnership, settling accounts, paying bills, distributing remaining assets to shareholders or partners, and then dissolving the business. Winding up a non-profit corporation requires a plan for distribution of assets to some charitable or other non-profit entity under the cy pres doctrine.

Law dictionary. . 2013.


Look at other dictionaries:

  • 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… …   Law dictionary

  • winding up — see liquidation London Stock Exchange Glossary * * * winding up ˌwinding ˈup noun [singular, uncountable] COMMERCE LAW when a business or organization is closed down, especially because it cannot pay its debts: • Redeemable preference shares… …   Financial and business terms

  • winding-up — /waɪndɪŋ ˈʌp/ (say wuynding up) noun 1. a concluding, especially the stopping of a business operation with the realising of assets, discharging of liabilities, etc. –adjective 2. of or relating to such a concluding: the winding up period was… …   Australian English dictionary

  • winding up — / waɪndɪŋ ʌp/ noun liquidation, the act of closing a company and selling its assets ♦ a compulsory winding up order an order from a court saying that a company must be wound up …   Dictionary of banking and finance

  • Winding Up — A process that entails selling all the assets of a business entity, paying off creditors, distributing any remaining assets to the principals, and then dissolving the business. Essentially, winding up is just another term for liquidation …   Investment dictionary

  • winding up —    The process that occurs just before a corporation or partnership ceases to exist, which involves liquidating the assets, paying bills, distributing any remaining assets to the shareholders or partners, and then dissolving the business. Winding …   Business law dictionary

  • winding-up — noun Date: circa 1858 British the process of liquidating the assets of a partnership or corporation in order to pay creditors and make distributions to partners or shareholders upon dissolution …   New Collegiate Dictionary

  • winding-up — The end of a company by selling off its assets to pay off creditors and distributing the remaining funds to its shareholders. Also called Liquidation …   Financial and business terms

  • winding up — End, conclusion, catastrophe, denouement, issue …   New dictionary of synonyms

  • winding-up — See: liquidation …   Accounting dictionary

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