The winding up of a Company through an insolvency procedure in which a liquidator realises the assets of a company and distributes the proceeds to the company’s creditors. A liquidation may be voluntary (commenced by the Company’s Shareholders) or compulsory (following a court order). Liquidation results in the dissolution of the company.
A period of time during which a Shareholder may not sell its Shares. Lock-Ups may be seen in arrangements between founders or following an IPO.