‐oriented countries such as the USA, liquidation is the most likely outcome of corporate insolvency in creditor‐oriented countries such as … going concern in creditor‐oriented countries. This study examines the efficacy of a corporate liquidation model and a … benchmark bankruptcy prediction model for assessing company liquidation. It finds that the former is more accurate in predicting …

‐up, creditors′ voluntary winding up and compulsory winding up. Outlines liquidation procedures involved in these forms of winding …