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

Proceedings at meetings - meetings and resolutions, Proceedings at Meetings...

Proceedings at Meetings: (a)Each item of business comprised in the notice should be taken separately, discussed and put to the vote.  Members may propose ammendments to the re

restraint of trade clause, a) Explain two scenarios in which a restraint o...

a) Explain two scenarios in which a restraint of trade clause would typically be used. b) Suppose your employer wanted to include a restraint of trade clause in your employment

Country strategy in harmonising national, Country Strategy in harmonising n...

Country Strategy in harmonising national It is proposed that the OMC should enhance the role of such Country Strategy in harmonising national and EC aid programmes. The OMC wi

Law of employment, Unique Vespa Couriers Pty Ltd ('UVC') is a courier compa...

Unique Vespa Couriers Pty Ltd ('UVC') is a courier company operating in the Melbourne metropolitan area.  Where most courier companies used bicycle couriers, UVC used vespas.  They

Discussion board question, I have an order in and I want to know what the 8...

I have an order in and I want to know what the 829.2 means and the order is 12.00?

Ddisadvantages - mergers and winding up, Ddisadvantages - mergers and windi...

Ddisadvantages - mergers and winding up: The disadvantages of s.280 are that cash may have to be provided to pay off creditors and dissenting members or alternatively the sale

The occupational, QUESTION The Occupational, Safety and Health Act 2005...

QUESTION The Occupational, Safety and Health Act 2005 states that Every employer shall, so far as is reasonably practicable, ensure the safety, health and welfare at work of

Registration procedures, Registration Procedures: The procedures to be...

Registration Procedures: The procedures to be followed by persons who intend to form a registered company will depend on whether the proposed company is to be a public company

Registers and documents - registered office, Registers and documents - regi...

Registers and documents - registered office: The following registers and documents are also kept at the company's registered office:- i.             The register of members

Contracts of indemnity, Contracts of Indemnity Indemnity is the undert...

Contracts of Indemnity Indemnity is the undertaking about primary responsibility to see like a certain act is performed there.If a particular contractual promise such constitu

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