This note provides an overview of liquidation. It discusses the ways a liquidator may be appointed to a debtor company, the purpose of liquidation, the immediate effect of liquidation on the company and key stakeholders and the role, duties and powers of the liquidator. It also addresses the overall progress of, and major steps involved in, a liquidation including the assets available to be realised in the liquidation, the types of investigations and examinations that may be conducted by the liquidator, the distribution of assets among creditors and the involvement of creditors. The note also explains the procedure for completing a liquidation and ultimately removing the debtor company from the Companies Office New Zealand Companies Register.