Order for compulsory liquidation, Business Law and Ethics

Assignment Help:

Order for compulsory liquidation:

The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.  Each meeting may nominate a permanent liquidator to replace the Official Receiver and also representatives to serve as members of a committee of inspection (to work with the liquidator).  The Official Receiver reports to the court which may appoint a permanent liquidator and a committee of inspection.  If no other liquidator is appointed (or if the post falls vacant) the Official Receiver continues to act as liquidator.  A liquidator must be an individual and may not be an undischarged bankrupt.

 Notice of the order for compulsory liquidation and of the appointment of a liquidator is given to the registrar and in the Kenya Gazette.  When the liquidator completes his task he reports to the court, which examines his accounts, and makes an order for dissolution of the company.  The order is sent to the registrar who gives notice of it in the Kenya Gazette and dissolves the company: ss.247 and 269.

If while the liquidation is in progress the liquidator decides to call meetings of contributories or creditors he may arrange to do so under powers vested in the court: s.336.


Related Discussions:- Order for compulsory liquidation

Bluebook format - located the resource, Explain how you located the resourc...

Explain how you located the resource that addresses the question and cite that resource in proper Bluebook format: Spend & Save is claiming that our client lacks standing to s

Code of ethics for nurses, Case Study You have been asked to serve as a nur...

Case Study You have been asked to serve as a nursing representative on a government committee to look at funding for health care of undocumented individuals who work in the United

Advise sandy on the following issues, Problem I. Sandy has been worki...

Problem I. Sandy has been working for Bean Canning Ltd for 9 years. Last Monday Sandy was called to the Manager's Office and verbally informed that her employment was termi

Formation of contract - law of contract, Formation of Contract - Law of Con...

Formation of Contract - Law of Contract However a legally binding agreement prepared between two or persons or more parties.  Whereas it has also been explained as a promise o

Empowers directors - company management, Empowers directors - company manag...

Empowers directors - company management: In the case of companies which have adopted Table A, Article 107 empowers directors to appoint a managing director "for such period an

Domicile, I would like to know more about Domicile of Dependency at Englis...

I would like to know more about Domicile of Dependency at English Law: Married women and minors.

What are the key elements of a conflict, Question: (i) Define the te...

Question: (i) Define the term "conflict", "grievance" and "dispute" (ii) What are the key elements of a conflict? (iii) Describe the transformation process of a

Identified and create all contract, The Laws of Contract DSL Limited decide...

The Laws of Contract DSL Limited decide to buy a ferry on operate it between CMI and Downtown, Kingston. They did not have enough money to buy the vessel, so they borrow some from

Explain the conflicts involved in decision making, Question 1 Consider you...

Question 1 Consider you are the manager of a banking organisation. You find negligence Question 2 Explain the conflicts involved in decision making Question 3 Consider a

Function of the court, Function of the Court: In Scottish Insurance Co...

Function of the Court: In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated: "But important though its task is to see that the procedure by

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