Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Evaluate nature of phoenix activity?
The literature on phoenix activity and the stakeholders consulted in this project emphasised that phoenix activity has evolved significantly over the past decade. Multiple stakeholders emphasised that phoenix activity is not confined to the building and construction industry or the lower end of the SME sector as it perhaps once was. Stakeholders noted the rise of phoenix activity in the cleaning and private security industries, with one stakeholder describing phoenixing in the private security industry as being at endemic proportions.
Multiple stakeholders observed that it is often suspected that financial advisers, lawyers and insolvency practitioners are involved in some incidents of phoenix activity. This issue was raised in the Parliamentary Joint Committee on Corporations and Financial Services Stocktake of Corporate Insolvency Laws. Phoenix activity has also evolved in terms of the forms it can take. In the early 1990s the most common forms of phoenix activity were where a company would incur debt in the form of employee entitlements, to creditors and for outstanding tax. Consequently, the business would go into liquidation or administration. The directors of the company would then form a new entity, often using some or all of the assets of the former company and often the same business name. This is commonly referred to as 'asset stripping'.
Recently, a more common arrangement is for a group of companies to be formed, where each primary business function is operated through a separate entity. One of the entities will supply labour to the entire group and will have relatively few or no assets. The labour entity withholds taxes and incurs debts and is declared insolvent without affecting the assets held elsewhere in the group. A new labour supply entity will be created and workers are transferred to this entity with little or no interruption to the day-to-day operations of the business.
How was Negligence the main cause? Negligence was the major cause: A claim for damages can only succeed when there has been damage or loss to the claimant. Illustrations
What are the important provisions of the Statute of ICJ Some of the important provisions of the Statute of ICJ are: Article 34 which states that only states and not the in
How to solve multiple equilibria problem The approach of equilibrium selection to solve multiple equilibria problem aims to retain the definition of equilibrium and accepts th
Exceptions for Nemo Dat Quod Non Habet However the "nemo dat" rule is subject for the following exceptions such are provided by the Act: like; (a) Estoppel With S.23
2 essays that due May 2.
What is the justification behind the right of innocent passage through territorial waters, when the waters actually form a part of the states sovereign territory? The rational
Define the subordinate legislation briefly. Subordinate legislation: • Regulations: It directly applicable and self-executing, no require for member state to create own
WHAT WAS THE IMMUNITY FROM JURISDICTION States are recognized as having authority over people, things and events within their own territory and therefore may exercise jurisdict
Powers: The ultra vires doctrine limits a company's powers to the attainment of the company's objects under its memorandum of association. Partnerships are not affected by t
State the International Policy Coordination There may be two sources of interdependence between national economic policies, club goods and horizontal spill overs. The first has
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd