If the insolvent firm is willing to accept liquidation, legal proceedings are not necessary, regardless of what the creditors think.

Name: If the insolvent firm is willing to accept liquidation, legal proceedings are not necessary, regardless of what the creditors think.
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Legal proceedings may still be necessary for liquidation to ensure that the distribution of assets to creditors is fair and follows the legal requirements, regardless of the firm's willingness to accept liquidation.

If the Insolvent Firm Is Willing to Accept Liquidation, Legal