Assignments of book debts-bankruptcy and liquidation, Financial Accounting

Assignments of book debts

The trustee can set aside an assignment of existing or future book debts, whether absolute or by way of charge, unless the assignment was registered as an absolute bill of sale, except in the case of debts:

  • Due at the time of the assignment from specified debtors; or
  • Growing due under specified contracts; or
  • Included in a bona fide transfer of a business for value; or
  • Included in an assignment of assets for the benefit of creditors generally.

 

Posted Date: 12/13/2012 12:45:37 AM | Location : United States







Related Discussions:- Assignments of book debts-bankruptcy and liquidation, Assignment Help, Ask Question on Assignments of book debts-bankruptcy and liquidation, Get Answer, Expert's Help, Assignments of book debts-bankruptcy and liquidation Discussions

Write discussion on Assignments of book debts-bankruptcy and liquidation
Your posts are moderated
Related Questions
Describe the concept of full cost recovery with illustrative examples.

In the current year, Company A is formed with $630,000 in capital from the sale of 21,000 shares of stock at $30 a share. Company A, which has no other operations, immediately acqu

You are evaluating a project which costs $720,000, has a four-year life, and no salvage value. Depreciation is straight-line and the half year rule does not apply. Sales are projec

(a) You are working as the CFO of Jeans Co. The company is currently seeking a new supplier for their goods. There are two main suppliers of choice, XYZ Ltd and ABC Ltd. The contra

In the above illustration we have consider how the future value modify along with the modification in frequency of compounding. So as to understand the relationship among effectual

What organizations are responsible for governing financial reporting? What is the role of each organization? How have the roles changed in the last 20 years? How might their roles



Closing Entries: Expenses Below is a list of accounts with corresponding ending balances. Account: Account Balance a.Insurance Expense: $1,300 b.Cash: 750 c.Accounts Receivable: 4,

Prepare a master budget You have just been hired as a new management trainee by XYZ Limited, a distributor of earrings to various retail outlets located in shopping malls acro