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.
Hi Dear, Could you please help me in online exam in ( Bus Law for Accounts).!! the exam will be open within one hour and half. Thank you
During the first lecture students asked for some assessments topics to guide them in the decisions that they need to take. Please note that: 1 Students may still formulate the
Procedure - Court of Appeal Conversely the practice and the procedure of the Court of Appeal are regulated through Rules of Court made through the Rules Committee constituted
I don''t know how to make a maxim. And my case is
Q. Diffrence between phoenix activity and honest behaviour? There are circumstances where a business has been managed responsibly and fails, and after a period of time, its di
Doctrine of Stare Decisis However the doctrine of "stare Decisis" or "judicial precedent" is a legal rule which utilized a judge to refer to the earlier cases decided through
How was Negligence the main cause? Negligence was the major cause: A claim for damages can only succeed when there has been damage or loss to the claimant. Illustrations
What is the meaning of Pareto inefficient outcomes Policy coordination is, therefore, designed to avoid Pareto inefficient outcomes. In absence of a supranational authority tha
Illustrate the Economic and Social Council of United Nations. UN Economic and Social Council: The Economic and Social Council (ECOSOC) functions as the central forum for
What are the rights and duties of a principal
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