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Security documents generally contained very wide powers of appointment such that on default the creditor could take over the business immediately and without the input of any court. A receiver appointed to the entire business became known as a receiver and manager. The receiver and manager would typically have extensive powers over the business ...
A floating charge is a qualifying floating charge if it is expressed to be one, or if the security document purports to give the holder power to appoint an administrator or administrative receiver. The procedure for appointing an administrator under a qualifying floating charge is as follows:
Rule 53 allows for a special master to be appointed only if one of the following exists: (1) the parties consent to the appointment, (2) to hold a trial without a jury or make recommended findings of fact where there is some exceptional condition or accounting or difficult computation of damages, or (3) address pre-trial or post-trial matters ...
A receivership is when an external administrator known as a "receiver" (usually a "receiver and manager" if it requires controlling the company) is appointed by a secured creditor to sell off a company's assets in order to repay the secured debt, or by the court to protect the company's assets or carry out other tasks. [1]
acting as interim receiver or provisional liquidator: At any time after a petition for an insolvency order under section 122 of the Insolvency Act 1986 (c. 45) has been presented, the court may appoint the OR as interim receiver (for an individual) or as provisional liquidator (for a company). This is to protect a debtor's property, or take ...
The Bankside Brewery was a partnership, composed of three hundred people, that began on 21 June 1808 for a term of 99 years. Drury was one of three managers, and the regulations of the partnership contained a provision for managers to be removed on a vote of the annual general meeting on Lady Day, Michaelmas.
He held the bank failed to discharge its burden of showing a proper case to enforce security. The decision to delay the property's sale was a sound one, and if it was sold the bank could be paid in full. If the bank was allowed to appoint a receiver, costs would be increased, which would decrease assets available to all creditors.
Rule XI, allowing for the appointment of "Rule XI committees" was adopted by the Senate in 1934 as a simple resolution offered by Senator Henry F. Ashurst. [14] Rule XI states, That in the trial of any impeachment the Presiding Officer of the Senate, if the Senate so orders, shall appoint a committee of senators to receive evidence and take ...
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