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The order may be rescinded by the court if: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
Assume that you are interested in understanding how much must be saved regularly over a period of time in order that at the ending of the period you have a particular amount. To an

The real risk-free rate is 2%. Inflation is expected to be 2% this year and 5% during the next 2 years. Suppose that the maturity risk premium is zero. What is the yield on 2-ye

Trend Analysis Trend analysis is an improvement over year-to-year analysis. When a comparison of financial statements covering more than three years i

A net loss resluts in a decrease in: a. Revenues b. Expenses c. Stockholder's Equity d. Liabilities

Accounting for Partnerships The owners’ interests in the business are divided into long term and short-term interests. (Long-term interests refer to original capital commitment

Alta Velocidad Esperanza de L'Argentina, Sociedad Anónima (AVE), a high-speed railway operator domiciled in Rio Norte, Argentina, is a Foreign Private Issuer as defined by the U.S.


You have the following limited information upon which to base your decision as to which is the better of two alternative funding arrangements: Alternative 1 is to arrange fun

La Favorite Pastry Shop has been in business since 1985 and started with a large commercial oven that was built in 1955. Max, the owner is debating whether or not to purchase a new

Below are excerpts from Safeway's 2010 Annual Report, including its Consolidated Balance Sheets, a portion of Note E, Lease Obligations, and Note H, Taxes on Income, from the Notes