Although directors are not normally held liable for the debts of a limited company, it is possible to be ordered to pay a contribution to the assets of the company if the court finds you guilty of wrongful trading.
This is a very real possibility if you continue to trade insolvently without fulfilling your duties as a director.
Cam caht yutube - What is liquidating assets mean
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settle the affairs of by determining the debts and applying the assets to pay them off Familiarity information: LIQUIDATE used as a verb is uncommon.
If a company goes into liquidation and owes you money, whether you get it back from the liquidator depends on a number of factors, including whether there is money available to make any payments at all.
Liquidation, also referred to as "winding up", is the process by which a company’s assets are liquidated and the company closed, or deregistered.