Within weeks their bank called in the company's overdraft of £38,000 forcing immediate liquidation of the company's assets.
Mr. Jordan said an immediate liquidation was likely to yield just 20 cents on the dollar.
By his face, no one could have guessed whether the Lizard mutineers had agreed to give up or were instead demanding that he present himself for immediate liquidation.
Order of the NKVD for immediate liquidation of the "menshevik underground".
Two months later, the commission ordered the immediate liquidation of those investments to comply with the new budget restrictions.
Mr. Graham said that not even the creditors pushed for immediate liquidation.
A creditors meeting post March 2002 voted in favour of an organised wind-up of the operation, under a deed of company arrangement, as opposed to an immediate liquidation.
"Certainly we had no interest in an immediate liquidation, but it was up to the insurance department to make that decision," he said.
Chapter 7, which requires immediate liquidation of whatever assets a debtor may have, is designed for individuals who want to make a fresh start but cannot pay their debts from current income.
The order cast the war against Russia as one of ideological and racial differences, and it provided for the immediate liquidation of political commissars in the Red Army.