partial liquidation

partial liquidation

A liquidation that does not completely dispose of a company’s assets; esp., a liquidation occurring when some corporate assets are distributed to shareholders (usu. on a pro rata basis) and the corporation continues to operate in a restricted form. [Cases: Internal Revenue 3820. C.J.S. Internal Revenue ¡ì¡ì 398¨C399, 402.]
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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.