Effect of disclaimer-bankruptcy and liquidation, Financial Accounting

Assignment Help:

Effect of disclaimer

The trustee may disclaim onerous property consisting of:

  1. Land burdened with onerous covenants;
  2. Stocks and shares;
  3. Unprofitable contracts, or
  4. Other property which is not readily saleable by reason of the liabilities attaching thereto;


and thereupon all the rights, interests and liabilities of the bankrupt and of the trustee in relation to the property are determined as from the date of disclaimer.


Related Discussions:- Effect of disclaimer-bankruptcy and liquidation

Calculate annual constant probability and face value, Greek Debt Exchange ...

Greek Debt Exchange On the evening of February 20, 2012 private institutional investors, representatives of the IMF, ECB, and European governments agreed to a major "intervention"

Theoretical value of shareholding, Q. Theoretical value of shareholding? ...

Q. Theoretical value of shareholding? (i) Theoretical value of shareholding Theoretical ex-rights value = ((No. shares in issue×Market value) + (No. rights shares× righ

Show the investment appraisal method, Q. Show the investment appraisal meth...

Q. Show the investment appraisal method? The investment appraisal method is concerned with assessing the value of future cash flows compared to the cost of investment. Since fu

Weighted average cost of equity, The discount rate used must normally refle...

The discount rate used must normally reflect the weighted average cost of equity and debt taking into account the systematic risk of the investment. A company's weighted average co

Types of gift by way of a will-executorship laws and account, TYPES OF GIFT...

TYPES OF GIFT BY WAY OF A WILL (a) A special (or specific) legacy is a testamentary gift of a particular part of the property of the testator, which identifies that part by a s

Calculate yield to maturity, Calculate Bond's Yield to Maturity Consid...

Calculate Bond's Yield to Maturity Consider a coupon bond that has a $1,000 per value and a coupon rate of 10%. The bond is currently selling for $1,150 and has 8 years to mat

Report on financial statements, At one time, Circle K was the second-larges...

At one time, Circle K was the second-largest convenience store chain in the United States. At its peak, Circle K operated 4,685 stores in 32 states. Circle K's rapid expansion was

Return on Equity, Maghrabi Enclosure follows a moderate current asset inves...

Maghrabi Enclosure follows a moderate current asset investment policy, but it is considering whether to shift to a different strategy. The firm''s annual sales are $500,000; its f

Accounting policies-financial statement, Accounting policies Accounting...

Accounting policies Accounting policies are the specific assumptions, bases, principles and practices that are adopted by firms in preparing financial statements. The standard

Concepts in accounting, Mr. Inherits 30000. Decides to open a salon jj salo...

Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd