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PREFERENTIAL DEBTS:
These unsecured debts which rank ahead of a floating charge and non-preferential debts are:(a) one year's taxes, i.e. corporation tax, PAYE income tax deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
Compulsory winding up: At the hearing other creditors of the company may oppose the petition. If so, the court is likely to decide in favour of those to whom the larger amoun
Question : In July 2007 Amin sent a brochure of a hotel he was running and managing to Sam, a travel agent and included the following statement: "The hotel provides a range of
Q. Legislative options for addressing phoenix activity? There are a range of legislative options for addressing phoenix activity and the following legislative options were expl
Extraordinary Universal Meetings: S.132(1) provides for the convening of "extraordinary" general meeting but does not define it. Neither is the word "extraordinary" defined i
Illegality - Law of Contract Therefore an agreement to constitute a legally enforceable contract then it must have been entered into to a lawful purpose. But an agreement to
Liability of Guarantor Therefore a guarantor's liability which does not arise until whether the principal debtor has made default, because notice of the default utilized not b
Sub: Filing Divorce and Issue of Restraining order services Dear Kimberly Frederick Bumfree, Warm Greetings from Donald & Matthews Law firm, This letter is for your imme
Defined specific acts that constitute an act of terrorism:- Convention on Offences on Board Tokyo Aircraft 1963 relates to hijacking. Unlawful Seizure of Aircraft in Hague 1
Rights of Guarantor Against the Debtor Therefore the guarantor's rights alongside the debtor are: like; (a) Before the payment has been made, whereas to compel the debtor t
1. Justices in the U.S. Supreme Court are appointed for life. Unless they choose to retire, they have the right to remain in office and cannot be removed by congress or by the Pres
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