Rescission-statement of affairs-receiving order , Financial Accounting

Rescission of receiving order

The order may be rescinded by the court if:

  1. The court has sanctioned a composition or scheme of arrangement;
  2. The debts have been paid in full; or
  3. The court otherwise considers that the order ought not to have been made.

Statement of affairs

Within fourteen days of the receiving order '(or before, but not more than three days before, the date of the debtor's own petition) the debtor must submit to the Official Receiver a statement of his affairs verified by affidavit, showing:

  1. Particulars of his assets, debts and liabilities;
  2. The names, residences and occupations of his creditors;
  3. The securities (if any) held by them, and the dates they were given; and
  4. Such further or other information as may be prescribed or as the official receiver may require
Posted Date: 12/12/2012 6:18:15 AM | Location : United States

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

Write discussion on Rescission-statement of affairs-receiving order
Your posts are moderated
Related Questions
list and explain the stages where the errors are deducted for rectification.

Promissory Note - Evidence of a DEBT with specific amount due and interest rate. Note may specify a maturity date or it may be payable on demand. Promissory note may or may not acc

Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w

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

how we write a literature review

LANDLORD'S RIGHT OF DISTRESS The Landlord's right to distrain for arrears of rent is not lost on the tenant's bankruptcy, but 1) Distress can only be levied after commencement

Indicate by check mark ("9") or "X" which accounts are found on the income statement and which accounts are found on the balance sheet.   Account Name In

Arnot International's bonds have a present market price of $1,250. The bonds have an 11% annual coupon payment, a $1,000 face value, and 10 years left until maturity. The bonds may

Suppose the interest rate for a one-period bond is 4% between the current period and the next. Then the rate becomes 5% for ever. (a) What is the price of an asset paying (1,1,1