Time for disclaimer-bankruptcy and liquidation, Financial Accounting

Time for disclaimer

The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as the court may allow.

This right is lost if a person interested in the property applies in writing for him to decide whether he will disclaim or not; in this case the trustee must give notice of disclaimer within 28 days of receiving the application, unless the court extends the time.

The court's consent is not required to the disclaimer except in the case of certain leases.

Posted Date: 12/13/2012 12:54:10 AM | Location : United States







Related Discussions:- Time for disclaimer-bankruptcy and liquidation, Assignment Help, Ask Question on Time for disclaimer-bankruptcy and liquidation, Get Answer, Expert's Help, Time for disclaimer-bankruptcy and liquidation Discussions

Write discussion on Time for disclaimer-bankruptcy and liquidation
Your posts are moderated
Related Questions
Effect of Winding-up Order The consequences of a winding-up order are: 1) Any disposition of the company's property and any transfer of shares is void, unless the court otherwis

The balance sheet and income statement for Bingle Ltd is presented to you as follows: Balance Sheet Extract as at 30 June 2012 with comparatives


DISSOLUTIONS A partnership may be dissolved due to various reasons which include: Poor trading that has led to losses A partner dying or leaving the firm The time

Consider the following 2008 data for Newark General Hospitals (in millions of dollars Simple Budget_______Flexible Budget_ Actual Budget__ Revenue______$4.7$____4.8_____$4.5_

Statement of Cash Flows - A statement of cash flows is one of the fundamental financial statements which is required as part of a complete set of financial statements prepared in c

PROVABLE DEBTS All debts and liabilities present or future, certain or contingent, are provable in bankruptcy, except: 1) Claims for unliquidated damages in tort; 2) Debts

what if 50% of customers who switch from pisa pizza who switch from original pizza to healthier pizza then switch to another brand from healthier pizza.

Illustration of change in profit sharing ratio A, B and C have been trading as equal partners having capital contributions of £400,000, £300,000 and £200,000 respectively. They

Individual taxpayers who don't itemize their deductions are entitled to a standard deduction amount by which to decrease ADJUSTED GROSS INCOME in arriving at taxable income. Amount