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Transactions Arising In A Liquidation:
In collection in and realisation of assets in order to pay the company's debts and then to distribute any surplus to members the liquidator will have dealings with creditors, secured and unsecured, with members and others. He may have to enforce claims on behalf of the company against those who previously managed its business. He has also to consider whether the charges on the company's assets on which secured creditors rely are still valid. This topic is concerned with the legal aspects of these problems and transactions of the liquidator.
Maintenance Of Capital: The issued share capital of a company limited by shares is the primary security for the company's creditors. In Re: Exchange Banking Co (Flitcroft's Ca
Resolution to Wind Up Voluntarily: The type of resolution to be passed varies with the circumstances of the case, as provided in s.271(1): (a) If the articles provide for
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ALLOTMENT OF SHARES: An allotment, legally, is the company's acceptance of an offer to buy its shares. Thus we can say it is governed by the following rules of the common law
1.(a) identify and give out the explanation of different categories of legal system. (b) How is legal system in bznz enforce
List of Members: S.130(6) provides that the directors shall cause a list showing the names and postal addresses of the members of the company, and the number of shares held th
Loans - Void Contracts However all loans made for an infant are void and irrevocable. Since in Leslie Ltd. v. Sheill the infant defendant had obtained two advances of two hun
Question 1: a) Explain the four principles of effective financial regulations. b) Describe briefly the various regulatory tools used to achieve objectives of financ
Drawee - Negotiable Instruments There following points concerning to the drawee should be noted. Through S.4(2) (a) provides that: like; (i) The drawee is dead or might bankr
Avoidance of Floating Charges: Under s.314 liquidation automatically renders void any floating charge created within the period of 12 months before commencement of liquidation
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