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Conforming, performing, and reforming are all
Voluntary Liquidation
The process in which a company's directors choose to voluntarily wind up the company's affairs, distribute its assets to creditors, and officially dissolve the business.
Liquidation Preference
A term in financial agreements that specifies the order in which creditors and investors are paid in the event of a company's liquidation.
Judicial Dissolution
A legal process through which a court orders the dissolution or termination of an entity such as a corporation or partnership based on certain grounds laid by law.
Deadlocked Directors
A situation in a board of directors where members are evenly divided on an issue, preventing a decision from being made.
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