What is Waterfall Arrangement under the Insolvency and Bankruptcy Code, 2016 About Liquidation and its interaction: Liquidation is the process of dissolving a partnership or incorporated company under the direction of an agent or "liquidator," who is authorized by statute to distribute the proceeds to the various leasers according to an agreed-upon formula. No one but firms can be liquidated. Defaulting people can’t be liquidated. Insolvency is the catalyst for bankruptcy or liquidation, and when a debtor enters the liquidation process, a bankruptcy expert oversees the process. Continues from the offer of the borrower’s resources are conveyed in the accompanying request of priority: Insolvency resolution costs, including the remuneration to the insolvency professional Secured creditors, whose loans are backed by collateral, dues to workers, other employees Waterfall mechanism for liquidation The waterfall mechanism under the Insolvency and Bankruptcy Code offers the need to
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