Effect of receiving order, Financial Accounting

Effect of receiving order

The consequences of the making of the receiving order are:

  1. The debtor retains ownership, but loses possession and control of his property;
  2. The official receiver becomes receiver of the debtor's property;
  3. No legal proceedings may be brought in respect of provable debts except by leave of the court;
  4. Transactions subsequently entered into by the debtor are prima facie invalid;
  5. The receiving order must be advertised in the gazette;
Posted Date: 12/12/2012 6:15:58 AM | Location : United States







Related Discussions:- Effect of receiving order, Assignment Help, Ask Question on Effect of receiving order, Get Answer, Expert's Help, Effect of receiving order Discussions

Write discussion on Effect of receiving order
Your posts are moderated
Related Questions
DIVIDENDS The dividends that appear in the consolidated statement of change in equity are for the holding company only. This is because the dividends of the subsidiary belong to

Which of the following is not a measurement issue in accouting a. when to record a business transaction b. how to classify the items of a businesss transaction c. when to classify

USAco is the wholly-owned U.S. subsidiary of ASIAco, a Japanese parent corporation that manufactures automobiles and sells them to USAco for resale in the United States. ASIAco sel

I need help with a mini accounting project. Here is a link to the questions I need to be answered. Read the questions and instructions and if you think you can complete the case wi

Weighing up the costs and benefits You may feel that, when considering a piece of accounting information, provided four main qualities identified are present and it's material

Q. Estimate the systematic risk of the new investment? The beta of the comparator company will be utilized to estimate the systematic risk of the new investment. No un-gearing


The construction manager for Acme, Inc. must decide whether to build single-family homes, apartments, or condominiums. She estimates annual profits will vary with the economy, as f

what is the reason of incorporating 1. corporate governance statement 2. audit committee statement 3. internal audit statement into annual reports?

Foreign Corporation - A corporation that isn't organized under the laws of ones territories or states. Taxing of foreign corporations relies on whether corporation has Nexus or eff