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UNSECURED ORDINARY DEBTS:
A secured creditor obtains payment (to the extent that his security is adequate i.e. if it exceeds in value the amount owing to him) because he has a valid prior claim to that security. Unsecured creditors are paid out of the remaining assets, i.e. the aggregate of:(a)any surplus value obtained by secured creditors in realising the assets which are their security and paid over to the liquidator, and(b)any assets which are not subject to charges given to secured creditors.But two special claims have to be given their due priority, i.e.(a)costs of winding up including the legal expemses and liquidator's remineration, and(b)preferential unsecured debts.
Following are different time zones in which the issue of Jammu & Kashmir could be divided: 1. 1947: when the dispute came up 2. 1948-1957: when the matter goes to UN, the su
Question 1: What do you consider to have been the significant factors in the historical development of urban local government in Mauritius? Question 2: Give an account
ACCOUNTS AND AUDIT: By s.147(1) every company shall cause to be kept in the English language "proper books of account" with respect to - (a) all sums of money received and
Beneficial Service - Binding Contracts According to such, a contract relates service or apprenticeship is such binding on an infant - which mostly provided it is substantially
Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)
Fran is a 68 year old female patient with a history of diabetes. Fran separated from her husband, Derek, 3 years ago (although they are not divorced) and over the past few years t
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Recovery of Possession of Goods However below S.15 where two-thirds or more about the hire-purchase price has been paid the owner is such precluded from enforcing the rights a
Wishes of members of parliament -Disadvantages law: However acts of Parliament do not reflect the wishes of the people as voters although the wishes of the individuals that wh
Qualifications of Advocates Conversely for qualify to admission as an advocate one must as; Be a US citizen or can say Possess a law degree from a recognized
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