the termination of the legal existence of a corporation. This may take place in several ways; as by act of the legislature, by surrender or forfeiture of its charter; by expiration of its charter by lapse of time; by proceedings for winding it up under the law; by loss of all its members or the reduction below the statuatory limit; by bankruptcy., winding up - the process of closing a company that has stopped trading, including the sale of goods and property, and payment of its debts, juriidilise isiku lõpetamine - lõpetamisotsuse vastuvõtmine, mille tagajärjel juriidiline isik astub uude staatusesse ja algab tema likvideerimine