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!
Compulsory liquidation - winding up:
There are a number of points of similarity:(a) in a compulsory (but not a voluntary) liquidation the directors have to submit a statement of affairs to the Official Receiver as provisional liquidator. If a receiver is appointed under a floating charge covering the company's undertaking as a whole he too is entitled to be given a statement of affairs.(b) accountants who specialize in insolvency may be appointed as liquidators or as receivers (sometimes they combine these positions in the same company but professional opinion in the U.K. has hardened against this position since there can be difficult conflicts of interest to resolve between unsecured creditors and members on one side and secured creditors on the other);(c) a receiver appointed under a floating charge is also manager of the business (or a manager is appointed to assist him). His function is to continue to carry on the business on a going concern basis. The liquidator's function is to sell the company's assets on the best terms he can get. As closure costs (redundancy payments to employees etc.) can be heavy a liquidator may decide to carry on the business with a view to selling it as a going concern. But this is only one of the alternatives open to him;(d) neither liquidator nor receiver usually has the assets of the business vested in his legal ownership (though a liquidator may obtain a court order for assets to be vested in him under CA, s.240 - but this is not common). Both liquidator and receiver have control of the company's assets.
Capacity - Element of Contract Capacity to Contract However 'capacity' may be described like the legally documented right of a person to enter with a legally binding ag
Alteration of Capital: A company is empowered by S.63 to alter the provisions of its memorandum of association which relates to its registered or authorised capital. However,
Companys objects: A company's objects are stated pursuant to the provisions of an Act of Parliament. It must therefore be deduced, for example, that a company whose object has
Interpretation of Constitution - High Court After then under Section 67(1) of the Constitution gives that whether any question as to the interpretation of the constitution ari
Subject to it or affected it - African Customary Law Mostly one of the parties must be subject to it or affected through it. Whether as the plaintiff and the defendant rel
QUESTION Miss Titch Herr, a newly appointed education officer, starts her day at No Nonsense State Secondary School (NNSSS), an institution wholly subsidized from public funds
State the royal assent for the procedure of parliamentary. The Royal Assent: It is specified when the Bill has passes by both Houses successfully and is usually simply fo
Explain about the Stages Model of Policy Outcome Dividing the policy process into discrete steps is also the analytic point of departure for much of the more recent work on pol
Right to prior repayment: Therefore this was not variation of class rights since the existing preference shareholders had the same number of shares (and votes at a class meeti
the right of debenture holder
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