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

Piecemeal realizations and distributions, Piecemeal Realizations and Distri...

Piecemeal Realizations and Distributions Partnership dissolutions may take a substantial number of days even months) so it is unlikely that all cash generated will be simultane

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

Multiple choice, A____ is a loss to the business and a gain to the debtor

A____ is a loss to the business and a gain to the debtor

Common Stock, If you have 10,000 shares of common stock sold at $10 per sha...

If you have 10,000 shares of common stock sold at $10 per share; and 100,000 shares authorized at $1 par value how would you show this on the balance sheet? Also if we issue 10,00

When youre using accounting software, when youre using accounting software ...

when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks

Please explain why, The following data has been taken from the management a...

The following data has been taken from the management accounting reports from Spinnaker Sales. Div A -Income from operations $1,800,000 Total service department charges $1,600,000.

Types of assets and liabilities, how many types of assets and liabilities a...

how many types of assets and liabilities are there? list of those types required

Legal aspects-autonomous branches, Legal Aspects There is no law relating...

Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans

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