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!
Proceedings for Compulsory Liquidation:
When the petition is presented to the court a copy is delivered to the company in case it objects, and it is advertised so that other creditors may intervene if they wish. At the hearing, a creditor whose debt is unpaid is likely to secure an order for compulsory liquidation (as his remedy of last resort) unless the company (paragraph 8) or opposing creditors (paragraph 9) persuade the court to dismiss the petition.
If the petition is presented by a member (contributory) he must show (in addition to suitable grounds for compulsory liquidation) that:
(a) the company is solvent or alternatively refuses to supply information of its financial position. The court will not order compulsory liquidation on a member's petition if he has nothing to gain from it. If the company is insolvent he would receive nothing since the creditors then take all the assets;
(b) he has been a registered shareholder for at least six of the 18 months up to the date of his petition. But this rule is not applied if the petitioner acquired his shares by allotment direct from the company or by inheritance from a deceased member or if the petition is based on the number of members having fallen below two: CA s.221.
A personal representative of a deceased shareholder may petition but he must first obtain a grant of probate etc. to establish his authority to represent the estate: CA, s.216. The trustee in bankruptcy of a bankrupt contributory may also petition on his behalf: CA, s.217.
It was noted by stakeholders that phoenix activity has evolved significantly over the past decade. First, the ATO noted that they are seeing significantly less 'asset stripping' of
For this unit you will be given a hypothetical business situation, which is to be developed in line with statutory and voluntary compliance requirements to enable the business to o
Ethics The influence of personal ethics on workplace behaviour. (a) Explain in relation to the organisation you researched in Section A of this report why managers should use ethi
Define the reflect relative policy stance We assume that contributions reflect relative policy stance, then the policy positions are perceived only noisily and we get only expe
Dissolution by the Court Conversely Section 39 of the Act prescribes the state of affairs that the court will decree the compulsory dissolution about a partnership. They are: li
A man is standing at a bar. His friend Sam says to him, "Jim, it was Claude who scratched your car and slashed all your seats." Two days later Jim is found beaten i
Technique of Reference to Arbitration Whereas a dispute may be referred to arbitration through like as; The parties in accordance by the agreement and The court wh
Hire-Purchase and Conditional Sale – Sales of Goods Conditional Sale is an agreement for the sale of goods like in which the purchase price or part about it is payable through
Issue of additional preference shares: In the Bristol Aeroplane Case it was said of the issue of additional preference shares that: "the existing prefere
Question 1: Describe in what ways Henry Mintzberg, Kotler, Luthans and Stewart have identified the roles and skills of a manager? Question 2: Show how Maslow's hierarch
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd