Define non liquidating assets

“Exempt Property” refers to any property that can’t be claimed by creditors in order to satisfy the borrower’s debts.Any other property that can be reached by creditors is called “non-exempt” property.A Liquidator is appointed to administer the liquidation of the company’s assets and to distribute the proceeds to creditors in accordance with law There are also Court Liquidations.This process may be instigated by a creditor seeking to recover monies owed.If the debt gets serious enough, the lender may file a lawsuit against the borrower in attempts to possess their assets for the debt repayment.In such a suit, the creditor can’t collect exempt property (which usually includes household items and the house itself).

Company Liquidation may be by means of: Members Voluntary Liquidation – where assets exceed liabilities Creditors Voluntary Liquidation – where there are insufficient assets to cover the liabilities.By contrast, an insolvent company can be wound up by the court or by a creditors' voluntary winding up.This last method is called a creditors' voluntary winding up because, while the company's members decide whether to appoint a liquidator, it is the creditors who decide whether a liquidator will stay involved in the company.If a company goes into liquidation and owes you money, whether you get it back from the liquidator depends on a number of factors, including whether there is money available to make any payments at all.Liquidation, also referred to as "winding up", is the process by which a company’s assets are liquidated and the company closed, or deregistered.