winding up

winding up
n.
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.
USA
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
n.
   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.

Игры ⚽ Нужен реферат?
Synonyms:

Look at other dictionaries:

  • winding — winding, sinuous, serpentine, tortuous, flexuous can all mean curving first one way and then another. Winding, the general and the ordinary term, often implies spiral ascent {winding stairs} {a winding mountain road} When applied to things in a… …   New Dictionary of Synonyms

  • Winding — Wind ing, n. 1. A turn or turning; a bend; a curve; flexure; meander; as, the windings of a road or stream. [1913 Webster] To nurse the saplings tall, and curl the grove With ringlets quaint, and wanton windings wove. Milton. [1913 Webster] 2.… …   The Collaborative International Dictionary of English

  • 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 — bezeichnet: den Familienname folgender Personen: Andréas Winding (1928–1977), französischer Kameramann Kai Winding (1922–1983), US amerikanischer Jazzposaunist dänischer Herkunft den Namen folgender Person: Nicolas Winding Refn (* 1970),… …   Deutsch Wikipedia

  • winding — [wīn′diŋ] n. 1. the action or effect of a person or thing that winds; specif., a) a sinuous path or course b) [usually pl.] devious methods, actions, etc. c) a coiling, spiraling, or twining d) a single turn 2. something that winds; specif …   English World dictionary

  • Winding — Wind ing, n. [From {Wind} to blow.] (Naut.) A call by the boatswain s whistle. [1913 Webster] …   The Collaborative International Dictionary of English

  • Winding — Wind ing, a. [From {Wind} to twist.] Twisting from a direct line or an even surface; circuitous. Keble. [1913 Webster] …   The Collaborative International Dictionary of English

  • winding — index circuitous, indirect, labyrinthine, sinuous, tortuous (bending) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • winding — [adj] bending, turning ambiguous, anfractuous, circuitous, convoluted, crooked, curving, devious, flexuous, gyrating, indirect, intricate, involved, labyrinthine, mazy, meandering, roundabout, serpentine, sinuous, snaky, spiraling, tortuous,… …   New thesaurus

  • winding — ► NOUN 1) a twisting movement or course. 2) a thing that winds or is wound round something. ► ADJECTIVE ▪ having a twisting or spiral course …   English terms dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”