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A “debtor,” for the purposes of the Act, is “a person or a partnership, or the estate of a person or partnership, which is a debtor in the usual sense of the word, except a body corporate or a company or other association of persons which may be placed in liquidation under the law relating to companies.”
application (or motion) proceedings, which are launched by means of notice of motion. If the incorrect form of litigation is used, the court may refuse to hear the case or to hear it in its present form, or may allow it to be heard but penalise the party which used the incorrect form when it issues an order for costs.
The application was to set aside the combined summons as an irregular proceeding on the grounds that the provisions of Rule 53 of Uniform Rules of Court (providing that proceedings on review "shall be by way of notice of motion") and of section 407(4)(a) of the Companies Act [2] (providing that a person aggrieved by the Master's direction may ...
the application was made simply to try and permit the company to continue to trade where the company is insolvency and clearly should be wound up; or; there was a genuine dispute as to the creditor’s debt. Given their nature, applications for provisional liquidation are often made urgently and without giving notice to the company or its ...
The Federal Law of 26 October 2002, No.127-FZ «About insolvency (bankruptcy)» provides that the function of settlement officer in liquidation procedure in insolvency (bankruptcy) cases of banks, insurance companies, pension funds and other financial institutions is carrying out by Deposit Insurance Agency of Russia (with some exceptions).
The court will grant a motion to convert to chapter 7 or appoint a trustee if either of these actions is in the best interest of all creditors. Sometimes a company will liquidate under chapter 11 (perhaps in a 363 sale), in which the pre-existing management may be able to help get a higher price for divisions or other assets than a chapter 7 ...
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A "motion to dismiss" asks the court to decide that a claim, even if true as stated, is not one for which the law offers a legal remedy.As an example, a claim that the defendant failed to greet the plaintiff while passing the latter on the street, insofar as no legal duty to do so may exist, would be dismissed for failure to state a valid claim: the court must assume the truth of the factual ...