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!
Proceedings for Compulsory Liquidation:
When the petition is presented to the court a copy is delivered to the company in case it objects, and it is advertised so that other creditors may intervene if they wish. At the hearing, a creditor whose debt is unpaid is likely to secure an order for compulsory liquidation (as his remedy of last resort) unless the company (paragraph 8) or opposing creditors (paragraph 9) persuade the court to dismiss the petition.
If the petition is presented by a member (contributory) he must show (in addition to suitable grounds for compulsory liquidation) that:
(a) the company is solvent or alternatively refuses to supply information of its financial position. The court will not order compulsory liquidation on a member's petition if he has nothing to gain from it. If the company is insolvent he would receive nothing since the creditors then take all the assets;
(b) he has been a registered shareholder for at least six of the 18 months up to the date of his petition. But this rule is not applied if the petitioner acquired his shares by allotment direct from the company or by inheritance from a deceased member or if the petition is based on the number of members having fallen below two: CA s.221.
A personal representative of a deceased shareholder may petition but he must first obtain a grant of probate etc. to establish his authority to represent the estate: CA, s.216. The trustee in bankruptcy of a bankrupt contributory may also petition on his behalf: CA, s.217.
Rights of Guarantor Against Creditor Consequently the rights of the guarantor are: like (a) Further at any time after that the guaranteed debt such has become due and such prev
Method of Service: Article 131 provides that a notice may be given by the company to any member either personally or by sending it by post to him at his registered address or
Invitation to Treat - Law of Contract Well this is a mere invitation through a party to another or others to make offers. Another time the offeror become offeree and invitee
QUESTION (a) Define the term 'contract' and explain the basic elements which constitute a valid and legally enforceable contract under the English Law (b) What do you unders
Principles and Presumptions of Construction: However in the course of settling some of these disputes the courts in England have elaborated the rules that they will utilized i
"Within a company there are many areas of potential disagreement among members. As the range of potential disagreement is very broad, so also is the scope for exploitation and abus
Prospectus Issue: Under a prospectus issue the company sells the shares directly to the public rather than selling them through intermediaries.
Hire-Purchase and Sale The hire-purchase transaction is such not a sale since, according to the definition like: (i)There is no seller or buyer. Such like the parties are the
Good Faith - meetings and resolutions: The directors must act in good faith when calling a meeting,. Thus, in Cannon v Tasks, the directors called the annual general meeting
QUESTION 1 Outline the history of Labour Laws in Mauritius QUESTION 2 a) In what circumstances can an employer raise the defence of abandonment of work? b) Section 1
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