Completed executions-bankruptcy, Financial Accounting

Assignment Help:

Completed executions

A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it-

  1. Before the date of the receiving order, and
  2. Without notice of the presentation of a petition or the commission of an available act of bankruptcy,   

But he can retain any money received by him before that date (Re Andrew).

If the judgement exceeds Shs 400 the bailiff must retain the proceeds of sale for 14 days, and us hand over the proceeds to O.R. or trustee, of notice of a petition is served on him during that time; and the same applies if, before sale, notice is served on him that a receiving order has been made.

The court has discretion to set aside these rights in favour of the creditor if it thinks fit.


Related Discussions:- Completed executions-bankruptcy

Revenue expenditures, Revenue expenditures 1. Are additional costs of plant...

Revenue expenditures 1. Are additional costs of plant assets that do not materially increase the asset's life or its productive capabilities 2. Are known as balance sheet expenditu

Show the capitalized cost, Q. Show the Capitalized Cost? Capitalized Co...

Q. Show the Capitalized Cost? Capitalized Cost - Expenditure identified with services or goods acquired and measured by theamount of cash paid or market value of other property

Financial strategy IRR, what managers should know about internal rate of re...

what managers should know about internal rate of return (IRR) and why?

Company accounts, how do we calculate bonus issu4 and rights issue

how do we calculate bonus issu4 and rights issue

Finacial stament, Ask question #Minimum 10010 qestions words accepted#

Ask question #Minimum 10010 qestions words accepted#

Calculate the total cost, 1.  The average annual investment cost of a works...

1.  The average annual investment cost of a workstation in New Jersey has been calculated to be $100,000.  It has been calculated to be $150,000 in Kentucky.  The hourly cost at a

calculate a weighted average contribution margin per unit, Part A   ...

Part A   The contribution margin income statement of Nice Cup Company for 31 December 2011 follows: Nice Cup Company   Contribution Mar

Branch accounting, some lectures on branch accounting chapter of advance ac...

some lectures on branch accounting chapter of advance accounting or way how to do journal entries or way of branch accounting??i m totally unaware of this chapter and want to study

Explain depreciate non-current assets, Question: Lucy Kim is in the car...

Question: Lucy Kim is in the car hire business. The following information came from her Fixed Asset Register on 31 December 2009: On 31 March 2009, she sold the car wh

Show equity and debt issues, A company is necessary by law to offer an issu...

A company is necessary by law to offer an issue of new equity finance on a pro-rata basis to its existing shareholders. This makes sure that the existing pattern of ownership and c

Write Your Message!

Captcha
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