winding up

winding up
see liquidation London Stock Exchange Glossary

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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 carry a preferential right to repayment of capital on a winding up.

• The High Court issued a winding up order against the firm's operations in the UK.

comˌpulsory ˌwinding ˈup LAW COMMERCE
a winding up that is controlled by a court of law, with an officer of the court in charge
ˌvoluntary ˌwinding ˈup LAW COMMERCE
a winding up that is not controlled by a court of law but happens because the owners of the company decide it should happen

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winding up UK US noun [C or U]
► LAW, MANAGEMENT the process of closing a business that is not successful and has debts that it cannot manage: »

The most common ground for a winding up by the court is a company's inability to pay its debts.

 winding-up order/petition/sale »

The company was threatened with a winding-up order for non-payment of tax debts.

»

winding-up costs/date

 »

grant/petition/vote for winding up

 »

winding up occurs/takes place

► FINANCE the act of closing an investment, a pension agreement, etc.: winding-up of a fund/pension/scheme »

Employees could lose 60% of their pension entitlement with the winding-up of their fund.

→ See also COMPULSORY WINDING UP(Cf. ↑compulsory winding up), VOLUNTARY WINDING UP(Cf. ↑voluntary winding up), WIND UP(Cf. ↑wind up)

Financial and business terms. 2012.

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Look at other dictionaries:

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