The situation was handled in the usual manner with the assets being sold for cash, in this case to the government, leaving the massive liabilities to be dealt with by Rolls-Royce Limited using the funds realised by the sale. However the government would not fix a purchase price for the assets until the situation became clearer because without a continuing business many of them might be worthless. In the meantime the government would use the assets to continue the activities of the aero-engine, marine and industrial gas turbine and small engine divisions that were important to national defence, the collective programmes with other countries and to many air forces and civil airlines. A new company (1971) was incorporated that May to purchase substantially the whole of the undertakings and assets of the four divisions of Rolls-Royce connected with gas turbine engines. The original company, Rolls-Royce Limited, was placed in liquidation on 4 October 1971.