Liquidation

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To return assets to clients in the UK before the end of the first quarter of 2010
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THE Great Southern group of companies has been largely liquidated, but the fate of the managed investment schemes in which 52,000 investors put billions of dollars is now in the hands of the receiver McGrathNicol.
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Even its management says so.
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The process of selling assets for cash.

This situation generally arises when a company can no longer carry out it's business as intended, by making profits and, share holders do not have any chance of gaining from investing in the company.

The cash generated out of liquidation is usually spent on reducing debts that company own to it's lenders.

For example, Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008 and now in Jan 2009, Barclay's [which took over Lehman, LEHMQ:US] is in the process of liquidating it, though Lehman has a couple of trillion dollars in assets.

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