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If that does not cover the debt, they will recoup the balance from the company’s remaining liquid assets, if any.
We partner with a Full Service Mechanic Shop that provides full safety inspections on all of our vehicles.
When purchase a vehicle, you’ll have peace of mind knowing that we’ve checked everything out for you before putting it up for sale.
It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. Not all bankruptcies involve liquidation; Chapter 11, for example, involves rehabilitating the bankrupt company and restructuring its debts.
As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims. The business is no longer in existence once the liquidation process is complete.
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The vast majority of our vehicles for sale are trade vehicles.