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the appointment of a receiver to hold assets of the defendant (where the injunction is insufficient on its own and where there is a measurable risk that a defendant will act in breach of the injunction), or; the appointment of a provisional liquidator (where the applicant is likely to obtain a winding-up order on the hearing of the petition).
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 ...
Good Day Dispensary LLC, Eastlake. Haley BeMiller is a reporter for the USA TODAY Network Ohio Bureau, which serves the Columbus Dispatch, Cincinnati Enquirer, Akron Beacon Journal and 18 other ...
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 ...
Seven Legendz LLC, which is new to Ohio, received a provisional license for a medical marijuana dispensary on Vine Street in a more than 2,000-square-foot space just south of Fountain Square, ...
Hundreds of workers in a small Ohio city are reeling after banking giant Barclays terminated 252-plus jobs in one fell swoop. One former employee claims they weren’t provided any notice.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]