Provisional liquidation is a process which exists as part of the
corporate insolvency laws of a number of
common law jurisdictions whereby after the lodging of a petition for the
winding-up of a
company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. The provisional liquidator is appointed to safeguard the assets of the company and maintain the
status quo pending the hearing of the petition. Unlike a conventional
liquidator, a provisional liquidator does not assess claims against the company or try to distribute the company's assets to
creditors.