Order for compulsory liquidation, Business Law and Ethics

Assignment Help:

Order for compulsory liquidation:

The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.  Each meeting may nominate a permanent liquidator to replace the Official Receiver and also representatives to serve as members of a committee of inspection (to work with the liquidator).  The Official Receiver reports to the court which may appoint a permanent liquidator and a committee of inspection.  If no other liquidator is appointed (or if the post falls vacant) the Official Receiver continues to act as liquidator.  A liquidator must be an individual and may not be an undischarged bankrupt.

 Notice of the order for compulsory liquidation and of the appointment of a liquidator is given to the registrar and in the Kenya Gazette.  When the liquidator completes his task he reports to the court, which examines his accounts, and makes an order for dissolution of the company.  The order is sent to the registrar who gives notice of it in the Kenya Gazette and dissolves the company: ss.247 and 269.

If while the liquidation is in progress the liquidator decides to call meetings of contributories or creditors he may arrange to do so under powers vested in the court: s.336.


Related Discussions:- Order for compulsory liquidation

Working of state jurisdiction, Working of State jurisdiction State juri...

Working of State jurisdiction State jurisdiction concerns essentially the extent of each State's right to regulate conduct or consequences of events. A state has the competence

Lifting the veil under case law, Lifting the veil under Case Law:     ...

Lifting the veil under Case Law:                  Numerous English cases have been variously classified by English writers as instances of "lifting the veil of  incorporation"

Values, V alues Basic convictions or beliefs which are specific beh...

V alues Basic convictions or beliefs which are specific behaviors and out- comes are more desirable compare to others. Values are judgmental in which they include our ideas

Liability of maker of a promissory, Liability of Maker of a Promissory ...

Liability of Maker of a Promissory Conversely S.89 provides such with the maker of a promissory notice through making it: like (a) Engages such he will pay it according to

What are the implied obligations of the employer, Question 1: With the ...

Question 1: With the enactment of the Labour Act 1975, how far has the freedom of the employer to unilaterally terminate contracts of employment been abrogated? Question 2:

Manner of transfer of bills, Manner of Transfer of Bills One of the ch...

Manner of Transfer of Bills One of the characteristics of bills of exchange is such whereas  A gives B a bill accepted through X in settlement of his debt, since this same ins

Use of shares of the minority, Use of shares of the minority: X, Y and...

Use of shares of the minority: X, Y and Z held 4,500, 4,500 and 1,000 one pound shares respectively, of Company B.  They were the only shareholders and  X and Y were the direc

Business law , Explain whether Mike should be excused from not performing u...

Explain whether Mike should be excused from not performing under the contract with Jim: Facts Mike ran an excavation business whereby he was contracted by builders to use his exca

Equitable lien, Equitable Lien General examples are for the lien of an...

Equitable Lien General examples are for the lien of an unpaid seller about land who that has moved out of possession to unpaid purchase money and such the right of partners on

Trade unions - unincorporated associations, Trade Unions:             ...

Trade Unions:                   Trade Unions are registered under s.11 of the Trade Unions Act 1952 with the primary object of regulating the  relations between employees and

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