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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.
Wilson Wonders's bonds have 15 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 12%. The bonds sell at a pri
Example of Short-term Solvency Current Ratio = Current Assets / Current Liabilities = 5.38
The business changed their policy with regards to the profit mark-upfrom 2018 to 2019 financial year. What was the changed.
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
AskA of Surat consign goods to B of Jaipur to be sold at or above invoice price. B is entiled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real
Definition: A partnership is defined as “the relationship that subsists between two or more persons carrying on a business in common with a view to making a profit.” (Partnersh
definition of historical cost accounting
A company purchased 16 million shares (representing an 80% controlling interest) in another company on 1 July 2010. The terms of the purchase were as follows: 1 share in
On January 1, 2010, Jacob issues $800,000 of 9%, 13-year bonds at a price of 96½. Six years later, on January 1, 2016, Jacob retires 20% of these bonds by buying them on the open m
i need to prepare a steep analysis report for kathmandu
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