Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Avoidance of Floating Charges:
Under s.314 liquidation automatically renders void any floating charge created within the period of 12 months before commencement of liquidation subject to the following exceptions:
(a) valid if the company was solvent at the time when the charge was created. A company is not solvent unless it can pay its debts in full as they fall due;
(b) if the company was not solvent the floating charge is still valid as security for cash paid to the company (with interest at six per cent per annum) after the charge was created and in consideration of the loan.
The general purpose of the rule is to prevent an unsecured creditor of an insolvent company from getting advantage over other creditors by obtaining a floating charge to secure an existing debt at a time when the company is heading towards insolvent liquidation. It is only the charge (as security) not the debt itself which becomes void.
QUESTION 1 Discuss the position in UK with respect to the Capital Maintenance Doctrine. QUESTION 2 (i) What are the essential requirements of a valid Asset Protection T
Elements of a Contract - Offer Further this is an unequivocal manifestation through one party of its intention to contract into another. So well it is a clear intimation for i
Loans - Void Contracts However all loans made for an infant are void and irrevocable. Since in Leslie Ltd. v. Sheill the infant defendant had obtained two advances of two hun
Explain International Atomic Energy Agency The NPT also creates rights and obligations on the members of NPT to comply with the provisions of the treaty and to ensu
Determine the term miscoordination - Policy Formation A problem known as miscoordination in Policy Formation may also emerge and it may be either vertical or horizontal. Let us
EXPLAIN THE KNGSTON COTTON MILL CASE
Defendant, Jones, is charged with several counts of possession of drugs and weapons. In the early morning hours, a 911 caller reported: "I hear a loud disturbance from Joe Jones' a
Define the meaning of Lobbyists Lobbyists place a premium on information. While framing their arguments; they often turn to research and analysis that supports the case they ar
Requirements of Registration of Hire Purchase Agreements Each Hire purchase Agreement must will in the English language It have be delivered to registration with
What is hire purchase?
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd