Liquidation in the context of "Unlimited liability"

The European Cooperative Society (SCE, for Latin societas cooperativa Europaea) is, in corporate law, a European cooperative type of company, established in 2006 and related to the Societas Europaea (SE). They may be established and may operate throughout the European Economic Area (EEA, including the European Union). The legal form was created to remove the need for cooperatives to establish a subsidiary in each member state of the European Union in which they operate, and to allow them to move their registered office and headquarters freely from one member state to another, keeping their legal identity and without having to register or wind up any legal persons. No matter where they are established, SCEs are governed by a single EEA-wide set of rules and principles which are supplemented by the laws on co-operatives in each member state, and other areas of law.

The Hudson's Bay Company (abbreviated HBC and colloquially Hudson's Bay) is a Canadian holding company of department stores and commercial property. It is the oldest corporation in North America, founded in 1670, although the company is in the process of being liquidated. It is headquartered at the Simpson Tower in Toronto.

The founding royal charter, issued by King Charles II, granted the company the right of "sole trade and commerce" over the Rupert's Land territory, the borders of which were based on the Hudson Bay drainage basin. It controlled the fur trade throughout English and later British North America, and was its de facto government until it relinquished control of the land to Canada in 1869. The company then diversifed with the ownership and operation of several retail businesses throughout the latter country. It established its namesake department stores in 1881, the Home Outfitters home furnishings stores in 1999, and acquired the Zellers and Fields discount stores in 1978. It also owned several regional department stores that were eventually converted to The Bay, including Morgan's, Simpsons, and Woodward's. Expansions beyond Canada included the United States, where it owned department stores including Lord & Taylor, Saks Fifth Avenue, and Saks Off 5th in the 2010s; and the Netherlands, where it sold its remaining stores in 2019.

The Government of India Act 1858 (21 & 22 Vict. c. 106) was an act of the Parliament of the United Kingdom passed on August 2 1858. Its provisions called for the liquidation of the East India Company (who had up to this point been ruling British India under the auspices of Parliament) and the transferral of its functions to the British Crown.

Lord Palmerston, then-Prime Minister of the United Kingdom, introduced a bill in 1858 for the transfer of control of the government of India from the East India Company to the Crown, referring to the grave defects in the existing system of the government of India. However, before this bill was to be passed, Palmerston was forced to resign on another issue.

Rite Aid Corporation was an American drugstore chain based in Philadelphia. Founded in 1962 in Scranton, Pennsylvania, at its peak it operated more than 5,000 stores. By May 2025, it operated only 1,200 stores across 15 U.S. states and was the seventh-largest pharmacy in the U.S. when taking into account big box chains.

The company filed for Chapter 11 bankruptcy in October 2023 due to a large debt load, thousands of lawsuits alleging involvement in the opioid crisis and a failed restructuring. It emerged in September 2024, but filed again less than a year later in May 2025, liquidating all remaining assets and closing its last remaining stores by September 2025.

A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. It functions without the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two). The presumption of going concern for the business implies the basic declaration of intention to keep operating its activities at least for the next year, which is a basic assumption for preparing financial statements that comprehend the conceptual framework of the IFRS. Hence, a declaration of going concern means that the business has neither the intention nor the need to liquidate or to materially curtail the scale of its operations.

Continuation of an entity as a going concern is presumed as the basis for financial reporting unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements are prepared under the liquidation basis of accounting (Financial Accounting Standards Board, 2014).

A company limited by guarantee (CLG) is a type of company where the liability of members in the event the company is wound up is limited to a (typically very small) amount listed in the company's articles or constitution. Most have no share capital, although rare exceptions exist.

The form originated in the United Kingdom, and now exists under the company law of Australia, Bermuda, Gibraltar, Hong Kong, the Gambia, Ireland, India, and the Canadian provinces of Alberta and Nova Scotia. It previously existed in New Zealand.

The State Emergency Service of Ukraine (Ukrainian: Державна служба України з надзвичайних ситуацій, romanized: Derzhavna sluzhba Ukrainy z nadzvychainykh sytuatsii), until December 24, 2012 named the Ministry of Emergencies of Ukraine (Ukrainian: Міністерство надзвичайних ситуацій України, romanized: Ministerstvo nadzvychainykh sytuatsii Ukrainy) is the main executive body tasked with carrying out state policy in the spheres of civil defence, rescue, creating and managing the system of insurance fund documentation, utilization of radioactive wastes, protection of population and territory in emergency situations, emergency prevention and response, liquidation in the aftermath, and the Chernobyl catastrophe. They represent Ukraine's sole fire & rescue service.

It is abbreviated as ДСНС [України]. It also directly administers the zone of alienation located just north of Kyiv.

In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. Unsecured debts are sometimes called signature debt or personal loans. These differ from secured debt such as a mortgage, which is backed by a piece of real estate.

In the event of the bankruptcy of the borrower, the unsecured creditors have a general claim on the assets of the borrower after the specific pledged assets have been assigned to the secured creditors. The unsecured creditors usually realize a smaller proportion of their claims than the secured creditors.