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THE PETITION
Petition by debtor:If the debtor presents his own petition, a receiving order is made at once without a court hearing and an adjudication order may also be made at once.Petition by creditor:A creditor whose debt is less than Shs 1,000 may petition jointly with other, if the aggregate of the debts is Shs 1,000 or more A secured creditor may only petition in respect of the balance unsecured unless he agrees to surrender his security.Presentation and hearing:The petition is presented to the court and must be served on the debtor at least eight days before the hearing. If the debtor wishes to oppose it he must give notice of that fact and the reasons for his opposition at least three days before the hearing.Protection of debtor’s property:At any time after presentation of the petition, the court may appoint the official receiver (O R) to be interim receiver of the property and the O R may himself appoint a special manager. The official receiver:The Official Receiver is an officer of the court appointed by, and under the supervision of, the Minister. His duties are to investigate the debtor's conduct and report thereon to the court, to act as receiver of the debtors property, summon and preside at the first meeting of creditors, advertise requisite matters in the Gazette and elsewhere, and act as trustee pending appointment of a trustee by the creditors and during any vacancy, and in small bankruptcies.
The liquidation of the Marks, Norris, Smith, and Savannah partnership:
On December 31, 2010, the stockholders' equity section of Arndt, Inc., was as follows: Common stock, par value $10; authorized 30,000 shares; issued and outstanding 9,000 shares $
1. To qualify as official development assistance (ODA), development loans must have a grant element of at least 25 percent, calculated using a stated annual interest rate of 10 per
is it true that deficit is an asset?
a) Company X is expected to maintain a constant 7% growth rate in their dividends, indefinitely. If the company has a dividend yield of 4%, what is the required return on their sha
Cost of goods sold minus sales
Notice an Rs.50, 000 investment in a one year fixed deposit and rolled over yearly for the subsequently two years. The interest rate for the primary year is 5 percent yearly and
Accounting Policies These financial statements have been prepared under the historical cost basis of accounting which is modified to accommodate the revaluation of certain proper
1. Think about the transactions listed below. a. A company obtains a $10,000 loan from a bank. b. A company purchases $15,000 of inventory from its suppliers. They paid $5,000 toda
Q. Limitations of the five year period of analysis? A number of restrictions to the analysis potentially arise - The approach doesn't take account of future benefits/costs a
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