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!
Reconstruction Under S.280:
The essential features of this type of reconstruction have been described at 8.2.1(b). It is subject to several disadvantages and is little used. But when a reconstruction takes this form s.280 procedure must be followed so that a dissenting minority does have the appropriate safeguard.
This procedure applies to a company which is proposed to be or is in course of being wound up voluntarily. A company in liquidation must dispose of its assets (other than cash) by sale in order to pay its debts and distribute any surplus to its members. The special feature of a s.280 reconstruction is that the business or property of Company P is transferred to Company Q in exchange for shares of the latter company which are allotted direct or distributed by the liquidator to members of Company P. Obviously the creditors of Company P will have to be paid in cash. A dissenting minority of members of Company P can also require to be paid in cash. Hence substantial sums may have to be found in cash. This is one of the drawbacks.
Exceptions: The rule in Turquand's case will not apply if: i.The person suing the company is in fact an insider, such as a director of the company: Howard v Patent Ivory
Explain Immunities of international organizations The immunities of international organizations are almost always specified in a treaty between the organizations and the host
Equity -Non-Recognition of Trusts Therefore the common law did not recognize "trusts". Like a case whether A conveyed property to B "on trust" for C the common law courts cou
Explain the basic criticism of the stages framework The basic criticism of the stages framework is that it, in a formal sense, parallels the cognitive steps of the rational ap
Dishonour by Non-Acceptance The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said
Explain the term- Sustainability One of the major problems identified for international policy coordination is whether the agreed outcome is sustainable. As can be seen from th
Formation and Characteristics of Agency An agency may come into existence by the following ways: Contract (Appointment) or agreement Further this can be done in any
RULE IN FOSS v HARBOTTLE: What has come to be recognized in company law as "the rule in Foss v Harbottle" is the decision of Vice-Chancellor Wigram in the case of Foss v Harb
State Article 9 of air and outer space law Article 9 states that each contracting State may, for reasons of military necessity or public safety, restrict or prohibit uniformly
Disadvantages of Entrepreneurship Development You will be your own boss and the boss of other people and make the decisions that are crucial to the business' success or fa
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