Search results
Results from the WOW.Com Content Network
Anguillan bankruptcy law regulates the position of individuals and companies who are unable to meet their financial obligations. Bankruptcy of individuals is usually referred to as "personal bankruptcy" in Anguilla, whereas the bankruptcy of corporations is referred to as "corporate insolvency". The legislation largely deals with both ...
However, the legislature is currently considering a comprehensive new Insolvency Act which will both close all of the relevant gaps in the law, and consolidate all related laws relating to both corporate insolvency and personal bankruptcy into a single statute. [41]
The Act governs bankruptcy proceedings, which are invoked: either voluntarily by a person who is insolvent, by a debtor's creditors, where the debtor owes at least $1000 and has committed an act of bankruptcy, or; where a proposal under the Act has failed. The Act also governs receivership proceedings. Receivers may be appointed by a secured ...
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]
Treaties extended to the Crown Colony of Trinidad and Tobago (1 C, 21 P) Pages in category "Treaties of Trinidad and Tobago" The following 200 pages are in this category, out of approximately 220 total.
In that case, the Court gave a detailed explanation of the nature of insolvency law in Canada. The Bankruptcy and Insolvency Act (BIA) provides a more rules-based approach for resolving a corporate debtor's insolvency, which must be observed strictly. The CCAA, on the other hand, provides a more discretionary approach that is remedial in nature ...
The Central Bank of Trinidad and Tobago was established by an Act of Parliament on December 12, 1964. In particular, the Bank's main responsibilities are to issue and redeem currency; maintain monetary and financial stability; act as banker to the government as well as the commercial banks and protect the external value of the Trinidad and ...
For the purposes of the BIA, it is important to be able to distinguish between legal definition of "insolvent person" and one of "bankrupt".Generally, an insolvent person is one who cannot pay his or her debts and may subsequently become bankrupt, either by assigning himself into bankruptcy, being petitioned into bankruptcy by the creditors, or being deemed to assign himself into bankruptcy by ...