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.
Bankruptcy is the legal process through which private individuals can be released from their debt while Liquidation differs from bankruptcy in the sense that the business cannot be resuscitated, whereas an individual can make a fresh start after becoming bankrupt.The same stand individuals and companies are advised to obtain legal advice from a specialist insolvency solicitor before entering into bankruptcy or liquidation.