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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.
Question 1: (a) Explain the term Corporate Social Responsibility. Critically examine the moral responsibility of corporations towards their stakeholders. (b) Discuss the stre
Disadvantage of a scheme of arrangement: The disadvantage of a scheme of arrangement is that it requires the preparation of elaborate documents and the observance of a strict
What do you mean by breach of duty? Breach of duty: It is based onto a “reasonable man” would conclude if there has been any negligence, so. The basis stems through what
Mrs. Lanuzzi began smoking in 1951 when she was fifteen. She smoked two packs a day until her death from lung cancer in 1984. She had tried several times, unsuccessfully, to quit.
Domicile of Dependence Moreover this is the domicile a person acquires by virtue of legal dependency. Hence it is determined through the domicile of the other person. Howev
QUESTION 1 Discuss the sources of the Mauritian law QUESTION 2 (a) Tom, Pim and Pam enter into a lease agreement. The agreement has already been signed by Pim and Pam.
Frank, a student at Anne Arundel Community College, is on his way to class one day. He enjoys his class very much and is looking forward to this particular class on tort law, but d
Statutory power - mergers and winding up: It is usual to proceed under s.207 as there are technical difficulties over s.300 procedure. The liquidator's powers to reach a comp
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
Discuss the roles of law and courts in today''s business environment. •Compare and contrast the federal court structure with your Florida''s court structure. •Discuss the concept
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