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Article 4 - State Responsibilty
Article 4. Under this Article a State shall be responsible for those territories in its jurisdiction which have different status under its domestic law. For example F.A.T.A in Pakistan. Secondly this article also mentions the fact that a state shall also be responsible for the actions or omissions of its Organs as well such as the legislature. The legislature should not pass a law which is in breach of an international obligation. So a state is responsible for all its organs like Legislature, Judiciary and Executives. E.g. the Hubco Case.
In 2004 the Corporations and Markets Advisory Committee proposed that assets and liabilities of companies be aggregated and creditors paid from a common pool which is commonly refe
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Members voluntary winding up: In a members' voluntary winding up the creditors play no part since the assumption is that their debts will be paid in full. There is no committ
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