acruals of this debt was not a cash loan but getting machineries on credit and inability to pay back due to some functional obsolescense and effect of development of new technology which make those machines outdated couple with change of taste in consumption of the products.

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Liquidation is a legal process that results in a company ceases to exist. Settlement is the allocation of the assets of a company to pay the debts of the creditors. After liquidation of the company ceases to exist literally. A company may be liquidated, either voluntarily by the owners / shareholders or by the courts by creditors seeking to recover funds or property provided or sold to a company.

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Debt

Liquidation could be an efficient solution: The liquidation of a holding company like Africa Israel does not prevent the continued operation of the profitable subsidiaries. The liquidation could include the sale of assets, and creditors would receive their money faster than via a complicated economic recovery plan.

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