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It has been suggested that the speaker or writer should either say technical insolvency or actual insolvency in order to always be clear – where technical insolvency is a synonym for balance sheet insolvency, which means that its liabilities are greater than its assets, and actual insolvency is a synonym for the first definition of insolvency ...
Federation of Pakistan v. Maulvi Tamizuddin Khan (1955) was a court case of the Dominion of Pakistan.The Federal Court of Pakistan (now the Supreme Court of Pakistan) ruled in favor of the Governor General of Pakistan's dismissal of the 1st Constituent Assembly of Pakistan.
The most common reasons for personal insolvency in Sweden are illness, unemployment, divorce or company bankruptcy. For companies, formal bankruptcy is a normal effect of insolvency, even if there is a reconstruction mechanism where the company can be given time to solve its situation, e.g. by finding an investor.
Insolvency is a difficult financial situation, but it doesn’t have to last forever. ... If you’ve reached the point of insolvency — meaning your debts exceed your assets —you may feel like ...
pari is the ablative singular masculine (since it must grammatically agree with passu) of the adjective par, "equal".If it were nominative, "an equal step" it would be par passus.
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 Ex parte Harmse, an important case in South African insolvency law, the applicant's statement indicated an excess of assets over liabilities, but the only evidence that he adduced to prove otherwise were certain letters written by estate agents or valuers. The court held that the applicant had failed to adduce sufficient evidence to ...
At the conclusion of oral argument, the case is submitted for the final judgements where cases are decided by majority vote of the justices.: 10–25 [99] It is possible that, through recusals or vacancies, the Court divides evenly on a case, as such happened on the case Nusrat Bhutto v. Federation of Pakistan (1977–78). [49]