Voluntary settlements-bankruptcy, Financial Accounting

Assignment Help:

Voluntary settlements

The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made:

a. Before and in consideration of marriage; or
b. In favour or a person taking in good faith and for value; or
c.  For his wife or children in respect of property accruing to him in right of his wife.

The trustee may further claim property settled within ten years of bankruptcy, unless it is proved:

a. That at the time of making the settlement, the bankrupt could pay all his debts without the aid of the settled property, and

b. All interest of the bankrupt in the property passed at the time the settlement was made.


Related Discussions:- Voluntary settlements-bankruptcy

Explain depreciate non-current assets, Question: Lucy Kim is in the car...

Question: Lucy Kim is in the car hire business. The following information came from her Fixed Asset Register on 31 December 2009: On 31 March 2009, she sold the car wh

T-account, Received 10,000 contribution from bill london in exchange for co...

Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used

Risk and return - issue of debt, Q. Risk and Return - issue of debt? Ra...

Q. Risk and Return - issue of debt? Raising debt finance will raise the gearing and the financial risk of the company while raising equity finance will lower gearing and financ

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?

Business mathamatics, im doing compound interest my calculator doest have a...

im doing compound interest my calculator doest have anxy butyx cant do nothing with the ten being the power of .9

Cost of Loan, Given information: Offered a $20 million commercial loan pri...

Given information: Offered a $20 million commercial loan priced using a 3month LIBOR index+100bp. After some preliminary research, using a money center bank''s swap trading desk

.branch accounting., speciman of accounts preparation in stock and debtor...

speciman of accounts preparation in stock and debtor system.

Show that a price is not an equilibrium price for asset, 1. Suppose that th...

1. Suppose that the one-period rate is 4% and that the two-period rate is 6%. What sort of expectation for the one-period rate next period makes this situation an equilibrium? 2

Bell mountain vineyards is considering updating, Bell Mountain Vineyards is...

Bell Mountain Vineyards is considering updating its current manual accounting system with a high-end electronic system. While the new accounting system would save the company mon

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