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Liquidator

In legal terms the word covers a person who is appointed to deal with the assets and liabilities of a certain company which goes through the process of liquidation. The liquidator is a person appointed by the court of law, and he has two obligations, dictated by the exact situation. He can either liquidate the assets of the company going through the liquidation process or he can preserve the assets if that option is in the benefit of the affected parties. All in all, the liquidator is a person appointed by the court, he has duties dictated by the law, but there are situations when he has the right to make a decision to act for the benefit of the affected parties. Its duties and obligations are clearly stipulated in the act of law, but in unforeseen situations he is allowed to make decisions, the only important issue is that he must act in all cases for the benefit of all the parties.