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
Q. What is basic defination of FCA? Yes. FCA is a method of accounting for all financial costs of funds used or committed for municipal solid waste (MSW) services. FCA suggests

Motivation is said to be an internal state that energises an individual to engage in certain types of behaviours. This process is triggered when the individual experiences certain

1.      Allocation of Indirect Cost Radiology Department in long Island Jewish Hospital incurred $1,267,000 of total indirect cost in five procedures (CC#557: Diagnostic Rad

Q. Draw neat sketches showing recommended formation width for bank and cutting for concrete sleeper track on B.G. as per latest guidelines of the Railway Board for double line. Sid

Determine the Balancing risk and return All decision making involves future and business decision making is no exception. Only thing certain about the future, though, is that w

Charlie Brown, controller for the Kelly Corporation, is preparing the company's income statement at year-end. He notes that the company lost a considerable sum on the sale of some

#questioSavage Distribution markets CDs of the performing artist Little Sister. At the beginning of October, Savage had in beginning inventory 1,200 Sister’s CDs with a unit cost o

Q. What is Stock Split? Stock Split - Increase in number of shares of a company's COMMON STOCK outstanding that result from the issuance of additional shares proportionally to

Valuing Callable Bonds: Bowdeen Manufacturing intends to issue callable, perpetual bonds with annual coupon payments. The bonds are callable at $1,350. One-year interest rates

Question 1: (a) "MTEF is about resource control, resource allocation and resource utilization." You are required to identify and discuss the different stages of MTEF. (N