Receiverships-appointment of receiver, Financial Accounting

Assignment Help:

RECEIVERSHIPS: APPOINTMENT OF RECEIVER

If a company defaults in payment of principal or interest, or otherwise defaults in observing the conditions contained in debentures issued, a receivership may result. A receiver can only be appointed where the debentures are secured by a fixed or floating charge, or both.

Where power is given in the terms of issue, the debenture holders or their trustees, if there is a trust deed, may appoint a receiver without having to apply to the court; and where the terms of issue provide for such an appointment, they usually provide also for the events upon the happening of which he shall be appointed, e.g. non—payment of principal, interest in arrears.


Related Discussions:- Receiverships-appointment of receiver

Quarterly cash dividends are planned, Given the information that follows, d...

Given the information that follows, draw a cash budget for the XYZ Store for the first six months of 2012. Every prices and costs remain constant. Sales are 80% for credit

What net carrying amount, On June 30, 2011, Omara Co. had outstanding 8%, $...

On June 30, 2011, Omara Co. had outstanding 8%, $3,000,000 face amount, 15-year bonds maturing on June 30, 2021. Interest is payable on June 30 and December 31. The unamortized bal

What two components are used to compute the return on assets, What two comp...

What two components are used to compute the return on assets ?

Cashflows from operating activities-group activities, Cashflows from operat...

Cashflows from operating activities  operating activities are the principle revenue generating activities of the business and examples of such cashflows include: Cash re

Prepare the partnership''s income statement, The partnership of Lewis and C...

The partnership of Lewis and Clark had these balances at April 30, 2008: Cash........$28,000 Liabilities........56,000 Clark Capital...14,000 Other Assets...84,000 Service Re

Income statement, depreciation in question is given more and in adjustment ...

depreciation in question is given more and in adjustment is less. What would be in the profit and loss account?

Objectives, what are the types and objectives of international accounting s...

what are the types and objectives of international accounting standersds?

Bond''s amortization, On January 1, 2010, Solis Co. issued its 10% bonds in...

On January 1, 2010, Solis Co. issued its 10% bonds in the face amount of $3,000,000, which mature on January 1, 2020. The bonds were issued for $3,405,000 to yield 8%, resulting in

Determine the range and quality of information, Determine the Range and qua...

Determine the Range and quality of information Financial accounting reports concentrate on information which can be quantified in monetary terms. Management accounting addition

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd