liquidation

But its organiser has now gone into liquidation.

The real estate firm went into liquidation in January under a mountain of debt.

The liquidation plan, which details how proceeds from asset sales will be distributed among various creditors, is subject to a vote by all unsecured creditors.

In Los Angeles County, meanwhile, a Superior Court judge has appointed an attorney to oversee the liquidation of the company’s California subsidiary.

“They were convinced for a while that the alternative was liquidation.”