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 Why is the United States, which is a leader country in so many areas, so far behind in the provision of social welfare benefits? QUESTION 2 (a) Who uses private
Explain the Laws and rules of atlantic case There are several laws and rules which were applicable to this situation: Paris Convention on Aerial Navigation of 1919 H
Question 6 Indicate any amounts from these transactions that is assessable income for the 2016/17 tax year. (a) Frida is a resident taxpayer employed by Sharpe Office Supplies. Sh
Third Reading: Now next is offers in Order 112(1) which is on the adoption of a report on a Bill the Third Reading may regarding leave of Mr. Speaker be taken forthwith and wh
Powers: The ultra vires doctrine limits a company's powers to the attainment of the company's objects under its memorandum of association. Partnerships are not affected by t
Determine the primary criticism of the stages model The primary criticism of the stages model is that it tends to be front-loaded, which means, more attention is paid to policy
Registration of Resolutions: By S.143(1) a printed copy of the following resolutions shall, within 30 days after the passing thereof, be delivered to the registrar for registr
Explain the term RECOGNITION RECOGNITION The term Recognition under international law means and involves the acceptance or acknowledgment of the existence by a State of an
Explain the Case Clipperton Island In Clipperton Island Case , an award was made in the arbitration which resolved a dispute between France and Mexico, in 1887, on the subjec
Effects or Consequences of Illegality Misdemeanour Or Illegality renders a contract unenforceable. However the contract creates no rights and imposes no obligations at the pa
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