If it is necessary to appraise the properties of the liquidation estate, the administrator shall conduct the appraisal according to the resolution of the creditors' meeting. In the absence of such resolution, he/she may conduct the appraisal according to auction, selloff or other proper method.

After 30 days from the day following the public announcement of the list of claims, the administrator shall distribute the properties of the liquidation estate to the creditors when they become distributable.
For the distribution under the preceding paragraph, the administrator shall prepare a distribution table, and state the sequence, proportion and method of distribution.
The distribution table shall be approved by the court and shall be publicly announced.
Any objection to the distribution table shall be filed with the court within 10 days from the day following the public announcement.
The court shall rule on any objection under the preceding paragraph.

When claims which may be released only if certain conditions are met receive distribution, reasonable security shall be provided. In the absence of security, the distribution amount shall be lodged with the court.
If the condition of the claims which may be released only if a certain condition is met has not been fulfilled within ten days from the day following the public announcement of the final distribution table, any creditor who has provided security shall be released from the security obligation and his/her security shall be returned.

If the claims subject to suspenseful condition or the claims exercisable in the future cannot be exercised within 30 days from the day following the public announcement of the list of claims, such claims may not be included in the distribution.

If objection to the liquidation claims is likely to delay the distribution, the administrator may lodge the corresponding amount according to the distribution proportion, and then distribute the remaining properties to other creditors.
If a creditor fails to notify the administrator of the change of his/her place of residence, office, business place or address, the administrator may lodge the amount distributable to him/her.

At the time of completion of the final distribution, the administrator shall submit a report regarding the distribution to the court.
After receipt of the report under the preceding paragraph, the court shall rule on the conclusion of the liquidation process.
No appeal may be taken from a ruling under the preceding paragraph, and such ruling shall be publicly announced.

After the termination or conclusion of the liquidation process, if additional properties distributable to creditors are found, the court may, on application of the administrator, approve the additional distribution; unless such properties are found later than two years after the day following the date when the ruling on termination or conclusion of the liquidation process becomes final.
An additional distribution under the preceding paragraph may be made even if the ruling on release from obligation of the debtor becomes final, and the provision of Article 123 shall apply mutatis mutandis thereto.
In the circumstance under paragraph 1 of this article, the process for undeclared and ascertained claims in the liquidation process shall be continued.

After the court's ruling on the initiation of the liquidation process, if the properties of the liquidation estate are insufficient to repay the expenses and debts under Article 108, the court may, on application of the administrator or on its own initiative, terminate the liquidation process.
Before ruling under the preceding paragraph, the court shall give the administrator and creditors the opportunities to state their opinions.
No appeal may be taken from a ruling under paragraph 1 of this article, and such ruling shall be publicly announced.

When the court rules on the termination of the liquidation process, the administrator shall perform the repayment in accordance with provision of Article 109, and shall lodge any portion in dispute.

The provisions of Article 87 shall apply mutatis mutandis to any case where the court rules on the termination or conclusion of the liquidation process.