The trading settlement funds or securities of its client may not be defined as its insolvent assets or liquidation assets.

非因客户本身的债务或者法律规定的其他情形，不得查封、冻结、 扣划或者强制执行客户的交易结算资金和证券。

youdao

Things are not quite so brutal these days, but European countries still deal with insolvent firms far more harshly than America does, and most such firms end up in liquidation.

现在不再有这么残酷的事了。但欧洲国家和美国相比，对资不抵债的公司的处理办法仍要严厉些。而且绝大多数这类公司都以破产清算结束。

youdao

But the government, fearing a run on the banks, believes that it is the only way to maintain stability and proceed with an orderly liquidation of insolvent banks.

ECONOMIST: Ecuador

And by putting teeth into bankruptcy laws, so that insolvent firms were actually forced into liquidation, mismanagement would also at last have a downside.

ECONOMIST: The longer march

After its experience in bailing out Thailand where insolvent finance companies are still in limbo rather than liquidation the Fund probably felt the need for immediate bank closures.

ECONOMIST: And South-East Asia thinks it��s all over