definiens: means, withrespect toaParty, ( a)suchParty 's filing apetition involuntary bankruptcy ormaking anassignment forthebenefit ofcreditors orconsenting totheappointment ofareceiver ofalloranysubstantial partofitsproperty, orfilingapetition totakeadvantage ofanylawsaffecting debtors generally, ineachoftheforegoingcases only ifitisdirected toandwillresult inliquidation ofsuch Party, or(b)thecommencement against such Party ofanycase, proceeding orother action seeking theadjudication ofsuchParty asbankrupt byacourtofcompetent jurisdiction ortheappointment bysuchacourtofatrustee orreceiver orreceivers ofsuchParty ofalloranysubstantial partoftheproperty ofsuchParty upon theapplication ofanycreditor inanyinsolvency orbankruptcyproceeding orothercreditors suit, which case, proceeding orotheraction isnotdismissed withinsixty(60)daysafteritscommencement, ineachoftheforegoing cases onlyifitisdirected toandwillresult inliquidation ofsuchParty