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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.
Remedies of the Ultra Vires Lender: In Sinclair v Brougham (26) the House of Lords explained that no action or suit lies at law or in equity to recove
Political and Education function of Chief Justice Political Function Moreover the chief justice administers the presidential oath for the person who is elected like pre
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What is a condition precedent? Provide me with an example.
Determine the primary criticism of the stages model The primary criticism of the stages model is that it tends to be front-loaded, which means, more attention is paid to policy
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Explain the concept of TERRITORY State is the most important subject of international law. It can be defined as a population, living in a definite territory that has government
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