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THE TRUSTEE IN BANKRUPTCY
1) Appointment of trustee
The trustee is appointed:
A vacancy is filled in the same way, the court having power to appoint if the vacancy is not filled within three weeks. A trustee appointed by the court may be replaced by a new trustee appointed by the creditors or committee of inspection.
2) Court objectionsThe court may object to a trustee appointed by the creditors or committee of inspection on any of the following grounds:
Remedies available to beneficiary 1) Injunction - to prevent unauthorised action by trustees; 2) Personal action - a trustee is only liable for his own acts and defaul
#qUsing these data from the comparative balance sheet of Junior Company, perform horizontal analysis. JUNIOR COMPANY
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O'Neill Co. has $298,106 in accounts receivable on January 1. Budgeted sales for January are $840,001. O'Neill expects to sell 20% of its merchandise for cash. Of the remaining 80%
Appointment of Liquidator The liquidator is appointed by the court after the above meetings have been held: if the meetings do not agree, the court must settle the issue: if no a
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