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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 ...
The National Reconciliation Ordinance (NRO) was an ordinance issued by the former President of Pakistan, General Pervez Musharraf, on October 5, 2007. [1] It granted amnesty to politicians, political workers and bureaucrats who were accused of corruption, embezzlement, money laundering, murder, and terrorism between 1986 - 2007, the time between three states of martial law in Pakistan.
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]
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 ...
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.
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There is a stipulated timeframe for disposal of cases filed with FTO Offices. Hence, complainants are not subjected to suffer indefinitely as is the case of formal judicial system. The FBR or its lower offices against whom the order is passed by the FTO has only one appeal to the President of Pakistan, as against the opportunity of filing ...
death, insolvency, insanity etc. of any member of a company does not affect the continuity of the company. Thus the life of the company does not depend upon the life of its members. it shall continue forever irrespective of continuity of its members or directors, except in case of liquidation (or "winding up") of a company.