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Protected transactions
These fall into three categories:(A) Under Section 50:
Provided that:(1) The transaction took place before the date of receiving order, and(2) The other party did not notice of an available act of bankruptcy.(B) Under Section 51:Any payment or delivery to the bankrupt or his assignee,
This includes payments made to a third party "on the request, order or direction of the bankrupt" (Re Dalton)
(D) Payment or transfer of money or property of the bankrupt by a person in possession of it to some other person, after the date, but before the gazetting, of the receiving order, provided that the transferor had no notice of the receiving order.
Such a transaction is not completely protected - but no claim can be made against the transferor unless it is "not reasonably practicable" for the trustee to recover it from the transferee.
Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . . . .
Notice an Rs.50, 000 investment in a one year fixed deposit and rolled over yearly for the subsequently two years. The interest rate for the primary year is 5 percent yearly and
The following information is available about the capital structure of Cheng & Davis Development (CDD). Capital Structure Current Target
Illustration of consolidated balance sheet H Ltd owned S Ltd since the date of incorporation of S Ltd. The balance sheets of the two companies as at 31 December 20X2 is as fo
Do you anyone on staff with the above experience? Notes cannot be copied from any real company''s financial report.
The following information for the six months ended 31 December 2009 relates to the business of Mr N Morris: a) Opening cash (including bank) balance Rs 1,200 b) Production in unit
The following information for Cooper Enterprises is given below: December 31, 2013 Assets and obligations Plan assets (at fair value) $200,000 Accumulated benefit obligation 370,00
THE STATEMENT OF CHANGES IN EQUITY This is a very important report because it explains the movements in the shareholder funds during the year and also acts as a link between the
Q. What do you mean by Fiscal Year? Fiscal Year - Period of 12 consecutive months chosen by an entity as its ACCOUNTING period that may or may not be a calendar year. Fixed Ass
A 4 year project has an initial asset investment of 306600, and initial net working capital investment of 29200, and an annual operating cash flow of -46720. The fixed asset is ful
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