SINGAPORE – Crystal Jade’s holding companies in Singapore and Hong Kong have been placed under receivership – but what does that mean?
There has been a slew of recent news about distressed companies, ranging from those under receiverships to those that face liquidation.
The different circumstances a distressed company finds itself in also affect employees differently. For workers, the key question is whether they will continue to be employed and paid. This, in turn, depends on whether the company continues to operate.
What happens when a company is liquidated?
“Winding up” and “liquidation” are used interchangeably to refer to the process in which a company’s assets are sold off and the proceeds are used to pay off its…