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.
Rules for Partnership - Partnership Law Joint tenancy, as such tenancy in common then joint property or common property and may part ownership does not of itself produce a
I would like to know more about Domicile of Dependency at English Law: Married women and minors.
what is wbp? and its danger and benefits ? components of wbp?
What are the origins of open method of coordination The origins of the OMC lie in the Lisbon European Council (March 2000), which made its introduction as the primary means of
Describe the policy making realities Rational models simply do not describe policy making realities. As policy actors seldom evaluate very many alternatives for action or compa
It has been estimated that about 6,000 phoenix companies operate in Australia, costing government and the community hundreds of millions of dollars per year and impacting on indi
Registers and documents - registered office: The following registers and documents are also kept at the company's registered office:- i. The register of members
Main advantages - mergers and winding up: A scheme of arrangement under s.207 offers three main advantages: (a) it can be used in circumstances to which s.210 and s.280
Working of State jurisdiction State jurisdiction concerns essentially the extent of each State's right to regulate conduct or consequences of events. A state has the competence
Termination of Partnership The Articles of Partnership will contain like a rule or be the regulations with regard for the termination of the partnership. Almost in the absence o
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