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!
Differences members and creditors voluntary wind up:
main differences between a members' and a creditors' voluntary winding up are that:
(a) in a creditors' voluntary winding up the liquidator, although responsible to members as well as creditors, is selected by the creditors. In a members' voluntary winding up he is appointed by the members;
(b) in a creditors' voluntary winding up the liquidator must obtain the approval (usually) of the committee of inspection for the exercise of certain statutory powers. In a members' voluntary winding up he obtains approval from the members in general meeting;
(c) there is a committee of inspection in a creditors' voluntary winding up with up to five members, a majority of whom being appointed by the creditors: s.288(1). There is no committee in a members' voluntary winding up.
The effect is that the creditors have a decisive influence on the conduct of the liquidation. This is reasonable since it is assumed (in the absence of a statutory declaration of solvency) that the company is unable to pay its debts in full. The remaining assets will therefore be realized for the benefit of the creditors and the members get nothing (unless the company proves to be solvent after all).
Meetings are held in the same sequence as in a members' voluntary winding up but the meetings of creditors are called at the same intervals as the meetings of members and for similar purposes.
Question 1: (a) What is "The Common Law"? (b) What are the virtues of the Common Law? Question 2: (a) Name the three facets of "the concept of justice". (b) E
Fraudulent Preference: Under s.312, any disposition of the company's property and any creation of a charge, fixed or floating, effected during the period of six months before
Games nations play Game analogy can be used to get the idea because the principal players, states reject any higher authority. Each state, take any player in a competitive game
Theories of relational contracts These are long-term, non-legal or only incompletely legal agreements. The fact of incomplete foresight is taken into account by leaving gaps in
QUESTION 1 Interpreting legislation is a very important function of the Court. However, Judges must only have recourse to the intention of parliament while interpreting legisla
1. set outs the differences between the reports in terms of range of issues dealt with in the report and the depth of the coverage. 2. Explain the differences between the two repor
STATUTE LAW: There this is an Act of Parliament. Whether this is law made through parliament directly in exercise of legislative power conferred upon it through the constitut
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Estate Planning Case Study Rich and his wife, Ruby, heard that you are an expert in the field of Estate Planning as a result of the superior education you received at WPU. The
Protection of Hirer - Sales of Goods In the S.7 of the Act makes certain provisions void whether they are contained in such the hire purchase agreement, like e.g.: 1) Any t
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