Search results
Results from the WOW.Com Content Network
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]
The court may appoint an official receiver, and one or more liquidators, and has general powers to enable rights and liabilities of claimants and contributories to be settled. Separate meetings of creditors and contributories may decide to nominate a person for the appointment of a liquidator and possibly of a supervisory liquidation committee.
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 ...
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States.It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business.
To sync schedules and simplify event planning, subscribe to someone else's calendar or share your own. AOL Calendar is only available on desktop web browsers and AOL Desktop Gold. 1. Sign in to AOL Mail. 2. Click Calendar. 3. Click Calendar full view. 4. Check our help articles for more info about AOL Calendar.
If the liquidator is not an administrator, he is appointed by the court usually on the nomination of the majority of creditors. [156] The liquidator can be removed by the same groups. [ 157 ] Once in place, the liquidator has the power to do anything set out in sections 160, 165 and Schedule 4 for the purpose of its main duty.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
The widow of former San Diego Padres owner Peter Seidler sued two of his brothers on Monday as she aims to gain control of the club. Sheel Kamal Seidler filed a complaint in Texas probate court ...