liquidating partner

Definition of "liquidating partner"
  1. A partner chosen to settle debts and accounts when their business partnership is dissolving or bankrupt
How to use "liquidating partner" in a sentence
  1. When the small company folded, their liquidating partner took responsibility to pay off the outstanding bills.
  2. A liquidating partner's role is crucial in the dissolution process as he or she ensures all obligations are met.
  3. It was her responsibility as a liquidating partner to settle all the firm's accounts.

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