#if creditors demand immediate payment in full of the debt and the company somehow manages to strike a deal then the company survives
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#this is a simplified narrative obviously#because before a company even goes to liquidation there are steps and due process#the auditor only gives an opinion or in certain cases refuses to give an opinion on the financial statements of a company#what happens next depends on the shareholders#if creditors demand immediate payment in full of the debt and the company somehow manages to strike a deal then the company survives#this is what you call voluntary administration#however if the insolvent company fails to meet its obligations then creditors may try seeking a court order for liquidation#and that is a separate exercise#the court would would then allow for the creditors to appoint a third party independent auditor to provide recommendations to the court#the court then may issue an order to liquidate the company based on recommendations from the third party independent auditor#so the narrative in this scene is the later stage obviously#mbc numbers#kdrama
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