Drum-Buffer-Rope is an intuitive solution to a seemingly complex problem. DBR is seen in many areas including Agile Development, Manufacturing, and Medicine (Emergency Room Visits). Itâs an effective business tool to manage the constraints that every business faces.
There are also a series of meetings and communication that the liquidator is bound to action and they will need to keep creditors informed as to the progress of the liquidation. Liquidation also means that the conduct of the former directors will be examined.
Liquidation Bankruptcy Law and Legal Definition. Liquidation bankruptcy refers to a bankruptcy proceeding filed under chapter 7, title 11 of the Bankruptcy Code. Bankruptcy filed under Chapter 7 is the most common type of bankruptcy proceeding. In a Chapter 7 case, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay the creditors in accordance with the provisions of the Bankruptcy Code.