Already have an account? Get multiple benefits of using own account!
Login in your account..!
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!
Differences members and creditors voluntary wind up:
main differences between a members' and a creditors' voluntary winding up are that:
(a) in a creditors' voluntary winding up the liquidator, although responsible to members as well as creditors, is selected by the creditors. In a members' voluntary winding up he is appointed by the members;
(b) in a creditors' voluntary winding up the liquidator must obtain the approval (usually) of the committee of inspection for the exercise of certain statutory powers. In a members' voluntary winding up he obtains approval from the members in general meeting;
(c) there is a committee of inspection in a creditors' voluntary winding up with up to five members, a majority of whom being appointed by the creditors: s.288(1). There is no committee in a members' voluntary winding up.
The effect is that the creditors have a decisive influence on the conduct of the liquidation. This is reasonable since it is assumed (in the absence of a statutory declaration of solvency) that the company is unable to pay its debts in full. The remaining assets will therefore be realized for the benefit of the creditors and the members get nothing (unless the company proves to be solvent after all).
Meetings are held in the same sequence as in a members' voluntary winding up but the meetings of creditors are called at the same intervals as the meetings of members and for similar purposes.
QUESTION 1 The Bank of Mauritius has got various objects. It has therefore got various functions and powers in order to achieve the attainment of its objects. Discuss QUEST
Question 1 What are cybercrimes? Mention in detail what are considered as cybercrimes Question 2 What are Intellectual Property Rights? Explain in detail Question 3 What
Mischief rule: "Four things are to be considered and discussed:; (i) First is 'what was the common law earlier than the making of the Act?' (ii) is 'what was the mischie
Payment to Promoters: A promoter has no legal right against the company he promotes. The main reason is that the company did not ask him to promote it, and because the compa
QUESTION Gerald is aggrieved of the decision of the Minister of Public Infrastructure to build a high way bypass through his housing estate. Gerald has been advised to apply
SECURED CREDITORS: A secured creditor may: (a) realize his security and prove as an unsecured creditor for the balance (if any) of his debt; (b)value the security and prov
Question 1: "Defining the problems of society and ensuring that they are placed on the governmental agenda constitutes the most important stage of policy making process." Discu
Explain the Case Clipperton Island In Clipperton Island Case , an award was made in the arbitration which resolved a dispute between France and Mexico, in 1887, on the subjec
Golden rule: Conversely the so-called 'golden' rule will be utilized through the court in order to avoid arriving on an absurd decision under the literal rule of construction.
What forces the policy maker to obey the law When law directs a policy maker to carryout policy, what forces the policy maker to obey the law? When there is no restriction from
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