Now, General Motors is going through a liquidation of debt.

现在，通用正在清偿它的债务。

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This process of corporate debt restructuring or outright liquidation may take years.

这一企业债务重组或全部清偿的过程或许要历时数年。

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Japan Airlines' share price touched an all-time low after Japan's transport minister did not rule out a liquidation of the debt-laden carrier.

在日本交通大臣取消对负债累累的日本航空公司的债务清除计划，之后该公司的股票价格跌倒历史最低点。

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The analyst even said that the extension is a positive in that the holders of the notes are continuing to work with the company on the liquidation of the underlying mortgage-backed securities, which are serving as collateral for the debt.

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Furthermore, the notion that they have the security of a debt instrument is usually a fallacy rarely is there any liquidation value when an early-stage company fails.

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