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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.
QUESTION (a) The new Guideline on Corporate Governance relates to the processes and structures that should be put in place in order to direct and manage the business and affair
Convening of General Meetings: General meetings are normally convened by the Board of Directors pursuant, to the relevant provision of the company's articles, such as Table A,
Explain importance of Jurisdiction Jurisdiction is an important and extensive concept referred to and used very frequently in international law. It provides clear n
State Article 16 of air and outer space law Article 16 states that the appropriate authorities of each of the contracting States shall have the right, without unreasonable dela
Question 1: (a) Distinguish between Industrial Relations and Employee Relations? (b) Explain five causes of Employee Grievances with suitable examples. (c) What ar
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