liquidatorliquidator: in insolvency law, a person appointed by credito...: in insolvency law, a person appointed by creditors or court order to realise and distribute the company’s assets; liquidators may also defend or prosecute claims on behalf of the company, including claims against directors for wrongful tradingwrongful trading: in company law, the civil liability of a c... and preference transactions, in order to get more money in and thereby maximise the return to creditors.