- 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 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.a winding up that is controlled by a court of law, with an officer of the court in chargea winding up that is not controlled by a court of law but happens because the owners of the company decide it should happen
* * *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.»
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.
Financial and business terms. 2012.