insolvent liquidationinsolvent liquidation: the process of winding up a company... More: the process of winding up a company’s affairs on the basis that it is insolventinsolvent: in company law, a company that is unable to pay i... More, ie. unable to meet its debts; a company can be placed into insolvent liquidationinsolvent liquidation: the process of winding up a company... More by one of its creditors or its directors, at which point a liquidatorliquidator: in insolvency law, a person appointed by credito... More will be appointed to wind down the affairs of the company in an orderly manner, including realising all assets in order to maximise the return to the company’s creditors.