When a business or firm falls into bankruptcy, or simply terminates for any reason, a formal and highly detailed agreement, known as a liquidation agreement, needs to be drafted and implemented.
The logistics cited in liquidation agreements include the distribution of assets; usually said assets are sold and the proceeds are used to pay creditors. Remaining proceeds are usually distributed among shareholders.
As with any business agreement, it is crucial to include the counsel of a knowledgeable attorney, however, one can learn a great deal simply by reading the liquidation agreements of other companies. A RealDealDocs membership will allows you to do this – and you can download one, or several agreements, into MS Word to create the liquidation agreement that best suits the needs of your business. This will save hours of drafting and large sums in legal fees – after drafting your liquidation agreement, you need only pay an attorney for final review to ensure that the agreement is solid and does not leave you or your shareholders vulnerable in any way.
Here are 5 Liquidation agreements currently available on RealDealDocs:
1) BJ SERVICES COMPANY DIRECTORS’ BENEFIT PLAN
AMENDMENT, TERMINATION AND LIQUIDATION AGREEMENT
Baker Hughes Incorporated
BJ Services Company LLC
2) PLAN OF LIQUIDATION AND DISSOLUTION OF BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP
BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP
BCA Associates Limited Partnership
3) Liquidation Agreement
SMARTIRE SYSTEMS INC
Cornell Capital Partners, LP
SMARTIRE TECHNOLOGIES INC
STARAIM ENTERPRISES LIMITED
STAROME INVESTMENTS LIMITED
XENTENIAL HOLDINGS LIMITED
YA GLOBAL INVESTMENTS, LP
Yorkville Advisors LL
4) Plan of Dissolution and Liquidation
PROFESSIONAL LEASE MANAGEMENT INCOME FUND I LLC
PLM Financial Services, Inc.,
5) PLAN OF COMPLETE LIQUIDATION AND DISSOLUTION
AFG INVESTMENT TRUST
AFG ASIT Corporation
Wilmington Trust Company