Receiver appointed by court-bankruptcy and liquidation, Financial Accounting

Receiver appointed by court

If appointed by the court, the receiver must give security as directed by the court.

The following notification must be given:

(a) The debenture holders must give notice of the appointment to the registrar within seven days for entry in the register of charges s.103,

(b) If appointed receiver or manager of substantially the whole of the company's assets under a floating charge, the receiver must give notice of his appointment forthwith to the company s.351 (1)(a),

(c) Every invoice, order for goods or business letter on which the company's name appears must state that a receiver or manager has been appointed s.349.

Where (b) above applies, the company must, within 14 days of receiving the notice (or such longer period as the court or the receiver may allow), submit a statement of affairs to the receiver s. 351 (1)(b), verified by affidavit or statutory declaration by a director and the secretary, and showing.

  • Particulars of the company's assets, debts and liabilities
  • Names, residences and occupations of creditors
  • Securities, if any, held by them, and the dates on which they were given, and

 

(d) Such further or other information as may be prescribed s.352(1).

Posted Date: 12/13/2012 1:57:04 AM | Location : United States







Related Discussions:- Receiver appointed by court-bankruptcy and liquidation, Assignment Help, Ask Question on Receiver appointed by court-bankruptcy and liquidation, Get Answer, Expert's Help, Receiver appointed by court-bankruptcy and liquidation Discussions

Write discussion on Receiver appointed by court-bankruptcy and liquidation
Your posts are moderated
Related Questions
Didde Co. had 300,000 shares of common stock issued and outstanding at December 31, 2010. No common stock was issued during 2011. On January 1, 2011, Didde issued 200,000 shares of

On 1 January 2008, a young artist called Michelangelo signed a contract with a charity named Art Angels, which supports young artists to do large projects. The agreement requires M

Fund flow Math problem and solution.

An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital

Star corporation issued both common and predered stock during 20X6. The stockholders' equity section of the company's balance sheets at the end of 20X6 and 20X5 follow: 20X6 20X5 P

On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses

GROUP STRUCTURES A group structure is the relationship between the holding company and its subsidiaries.  There are normally four main types of group structures (apart from the

Find the current value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to se

Presented below are condensed financial statements adapted from those of two actual companies competing as the primary players in a specialty area of the food manufacturing and dis

Q.2  Explain different methods of costing. Your answer should be studded with examples (preferably firm name and product) for each method of costing.