Liquidation in our view is not the end, but a new beginning. Business Rescue is the Debt Review for a Legal entity.
It is important that the process is supporting your new Business Plan. Legal protection is obtained in order to give the Business an opportunity to propose and agree a new business plan and actions with its Creditors. A external Business Practitioner and team has to be appointed.
If the decedent specifically bequeaths or devises an asset, or leaves a piece of real estate by will, the executor or administrator can’t sell it unless it’s necessary to pay the decedent’s debts or estate expenses.If the power to sell isn’t stated in the will, you must get approval of the probate court for the sale of real estate held in the decedent’s name.If the decedent had no will, the probate court must grant a license to sell real estate.Liquidation can help to pay the estate’s debts and expenses and make distributing the remaining assets easier.The process for selling securities, like stocks and bonds, depends on how the decedent held these assets while living.