liquidate

Cohn thinks people should sit tight before liquidating all their assets — especially if selling off their home and stocks could lead to tax penalties.

The more likely scenario is that the park’s assets and land, which were recently valued around $21 million, will be liquidated to pay back his debtors.

The radio host conspiracist was ordered to liquidate that platform to pay off part of a massive defamation judgment against him for smearing the families of Sandy Hook school shooting victims repeatedly.

As quoted in the lawsuit, a party is entitled to $10,000 in liquidated damages for each separate breach by the other party.

It is being liquidated under Chapter 11 of the bankruptcy code typically used by companies seeking to restructure and remain in business.