What is date of commencement of winding up

Assignment Help Other Subject
Reference no: EM133267162

Problem:

Small Business Pty Ltd ('Small') was in the business of running a coffee shop. Patricia and Peter, the directors of the company have decided to retire from the family business and so the decision was made to wind up the company. 

Patricia and Peter as directors provided their declaration of Small's solvency, on 14 March 2022, the shareholders of Small passed a special resolution to wind- up Small and Mark was appointed as liquidator of Small.  However, initial investigations by Mark have indicated that Small is not solvent, but insolvent and has been so for a number of months. In accordance with his obligations under s496(1) Corporations Act ,Mark has convened a meeting of Small's creditors who have confirmed his appointment as Liquidator of Small Business Pty Ltd . 

You are required to advise Mark, the liquidator of Small on the following:

  1. What is the date of the commencement of the winding up of Small Business Pty Ltd?
  2. What is the 'relation back day' which applies to Small Business Pty Ltd? 

Please include in your answer the relevant sections of the Corporations Act to support your answer. 

Reference no: EM133267162

Questions Cloud

Assignment on business law : Provide legal solutions to various disputes provided in the cases. Analyse which areas of legal solutions apply to the disputes ranging from health and safety,
Ethical dilemma from a consequential framework : The ABC division in your company is struggling. The Board of Directors has made the decision to either close the business or divest it (sell it to another compa
How should municipalities deal with financial problems : How should municipalities deal with their financial problems and with misconduct? You should refer to the relevant provisions in the Local Government: Municipal
Directors of sails for insolvent trading : Sails ltd ( Sails) is a listed public company on the ASX. It manufactures expensive high -end sporting and leisure matches. Sails has a 100 million loan with Ac
What is date of commencement of winding up : Small Business Pty Ltd ('Small') was in the business of running a coffee shop. Patricia and Peter, the directors of the company have decided to retire from the
Problem based on the random walk theory : Based on the random walk theory, if a stock's price decreased last week, then this week the price.
Determine the freedom-responsibilities : With reference to the Netflix "Freedom & Responsibilities" slides, you are to research and understand how making a positive company culture can benefit your cus
Discuss the rights and liabilities of the parties : Sayeeda operated a amall food stand at an open-air market where farmers in close proximity to one another had set up makeshift stalle or tables to display their
Explain business obligations to environment local community : Two slides to explain your business' obligations to the environment local community.

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd