This chapter describes the day-to-day management of a liquidation. It addresses the liquidator's need to secure office space, retain key employees, hire staff, take custody of the company's records, establish internal controls for the handling of funds, maintain records, and comply with federal, state, and local laws. The process for the review and assumption or rejection of executory contracts to which the debtor is a party is outlined. The practical steps for liquidation management are also explained.
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