Financially distressed petroleum dealer, Hashi Energy is disposing of multiple assets, including parcels of land amid liquidation to pay off its creditors after announcing plans to go into voluntary administration last year.
Liquidation is the process of bringing a business to an end and distributing its assets to claimants. This usually happens when a company is insolvent, meaning it cannot pay its obligations when they are due. As the company's operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims.
