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Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
In most jurisdictions, a liquidator's powers are defined by statute. [3] Certain powers are generally exercisable without the requirement of any approvals; others may require sanction, either by the court, by an extraordinary resolution (in a members' voluntary winding up) or the liquidation committee or a meeting of the company's creditors .In the United Kingdom, see sections 165-168 of the ...
[1] Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders ...
The United States District Court for the Eastern District of Illinois was created on March 3, 1905, by 33 Stat. 992, [4] by splitting counties out of the Northern and Southern Districts. It was later eliminated in a reorganization on October 2, 1978, which replaced it with a Central District, 92 Stat. 883 , [ 4 ] formed primarily from parts of ...
A "motion to dismiss" asks the court to decide that a claim, even if true as stated, is not one for which the law offers a legal remedy.As an example, a claim that the defendant failed to greet the plaintiff while passing the latter on the street, insofar as no legal duty to do so may exist, would be dismissed for failure to state a valid claim: the court must assume the truth of the factual ...
A liquidating distribution (or liquidating dividend) is a type of nondividend distribution made by a corporation or a partnership to its shareholders during its partial or complete liquidation. [1] Liquidating distributions are not paid solely out of the profits of the corporation. Instead, the entire amount of shareholders' equity is ...
The major activities of the Illinois Board of Admissions to the Bar are: (1) administering the semiannual Illinois bar examination; and (2) examining the character and fitness of potential lawyers. After the Board has reviewed and approved applicants to the Illinois bar, applicants are admitted by the court on motion. [1]
The 20th Illinois Infantry was organized at Joliet, Illinois and mustered into Federal service on June 13, 1861, for a three-year enlistment. The regiment was mustered out of service on July 16, 1865.