Resolutions of creditors-bankruptcy, Financial Accounting

Assignment Help:

RESOLUTIONS OF CREDITORS

Normally, decisions at meetings of creditors are taken by ordinary resolution, viz., a resolution passed by a simple majority in value of creditors present, personally or by proxy, and voting on the resolution.

A special resolution, viz., a resolution passed by a simple majority in number and three-fourths in value of the creditors present and voting, is required:

(a) To appoint a trustee other than the Official Receiver in a small bankruptcy;
(b) To make an allowance to the bankrupt in a form other than money;
(c) To require the Official Receiver to remove a special manager.


Related Discussions:- Resolutions of creditors-bankruptcy

What is recapitalization, Q. What is Recapitalization? Recapitalization...

Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb

Monetary policy, Monetary Policy Unlike fiscal policy, monetary policy...

Monetary Policy Unlike fiscal policy, monetary policy is set by unelected officials. A group of economists is appointed by the executive branch and confirmed by the Senate to

accounting, what organizations are responsible for governing financial rep...

what organizations are responsible for governing financial reporting? what is the role of each organiztion? how have the roles changed in the last 20 years? how might their roles c

methods of costing, Q.2  Explain different methods of costing. Your answer...

Q.2  Explain different methods of costing. Your answer should be studded with examples (preferably firm name and product) for each method of costing.

Business, #Which of the two ratios are the greatest? 1.67.1 or 0.29.1

#Which of the two ratios are the greatest? 1.67.1 or 0.29.1

Required: prepare journal entries for the above transactions, Sleek Ride, a...

Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June: a. Purchased, o

Revaluations, Revaluations Partners rarely revalue their assets and any r...

Revaluations Partners rarely revalue their assets and any revaluations may be carried out when a new partner is being admitted or an old partner is retiring.   To facilitate th

Define the term- how are businesses organised, Define the term- How are bus...

Define the term- How are businesses organised Nearly all businesses which involve more than a few owners and/or employees are set up as limited companies. This means that finan

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