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

Offer and iit , difference b/w offer and ITT AND PAKISTANI CASES OF AUCTION...

difference b/w offer and ITT AND PAKISTANI CASES OF AUCTION ,ADVERTISMENT,TENDERS AND DISPLAY OF GOODS?

What is the territorial sovereignty, What is the territorial sovereignty ...

What is the territorial sovereignty The territorial sovereignty includes the land territory, the territorial sea, the seabed and the subsoil of the territorial sea. It also inc

Publication of list of repeat offenders, Q. Publication of list of repeat o...

Q. Publication of list of repeat offenders ? As a part of the joint education campaign option, or separate to the education campaign, a ‘naming and shaming' approach could also

Service excellence in business, Mr Zamora was apparently worried.  Not ever...

Mr Zamora was apparently worried.  Not everything was going his way.  It was already 6.00 p.m. and his car had broken down.  He had to travel to the Mexico City airport to leave fo

What are the three main features of security, QUESTION 1 (a) What are t...

QUESTION 1 (a) What are the three main features of security? Define the different types of security that banks normally take to secure credit facilities (b) The Borrower Pro

Attorney general, Attorney General However the office of the Attorney ...

Attorney General However the office of the Attorney simply is established through sec (i) of the constitution. In the public service it is an office.  Appointment of

Conditions for relief - statutory provisions, CONDITIONS FOR RELIEF: I...

CONDITIONS FOR RELIEF: In H.R. Harmer Ltd (1959) Jenkins L.J. summarised the conditions which must be met before relief under the section can be granted by the court when he s

Business organisation, what are the business organisation of objecetive

what are the business organisation of objecetive

Three main categories of international humanitarian laws, There are three m...

There are three main categories of international humanitarian laws: 1) The Hague conventions 2) The Geneva conventions 3) The additional protocols

Estate planning , Estate Planning Case Study Rich and his wife, Ruby, ...

Estate Planning Case Study Rich and his wife, Ruby, heard that you are an expert in the field of Estate Planning as a result of the superior education you received at WPU.  The

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