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
ACCOUNTS UNDER TRUSTEE (a) Authorised investments The investments which trustees are permitted to hold may be specifically stated in the will or deed constituting the se

Q. Explain about Financial Accounting Standards? Financial Accounting Standards - Official promulgations, also called STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS, by FINANCIAL

how to do the calsulations for bad debts

Analyze one completed M&A transaction from recent times There are two main requirements (1) an analysis of the strategic and economic rationale behind the merger, and (2) an analy

The December 31, 2005, balance sheet of Far Imports includes the following items: The bonds were issued on December 31, 2004, at 97, with Interest payable on June 30 and December 3

Americans With Disabilities Act - ADA  legislation passed in 1990 that bans discrimination against people who are having disabilities. According to this Act, discrimination against

Monte and Allie each own 50% of Raider Corporation, an S corporation. Both individuals actively participate in Raider's business. On January 1, Monte and Allie have adjusted bases

The following costs were incurred in 2010 in the design and construction of a new office building over a nine-month period during 2010: Requirement Calculate the amount

This assignment requires you to pretend you have $10,000 to invest for 4 weeks.  You are to "invest" this money in stocks or mutual funds and to track your investments on a weekly

Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio