liquidator does it mean the entity that will take over the existing assets of the insolvent developer?

on a quick search, there have been various examples where developer just MIA before hand over to buyers

one prominent case is the Main Place project in USJ 21, it started as far back as in 2001, and it was only completed by Bina Puri in early 2010s after changing hands of 2 times, not easy feat for buyers to bear esp if they are those first time home buyers

another more recent example is the Empire Damansara, where Mamoth sold its stakes to Exim, but that was where Mammoth are not insolvent