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Prior to 2012 Cap 32 was called the Companies Ordinance, but when the Companies Ordinance (Cap 622) came into force in 2014, [3] most of the provisions of Cap 32 were repealed except for the provisions relating to insolvency, which were retained and the statute was renamed to reflect its new principal focus.
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]
When appointed by the court and creditors, the Official Receiver (破產管理署) is responsible for the proper and orderly administration of the estates of insolvent companies ordered to be wound up by the court under the winding-up provisions of the Companies Ordinance and of individuals or partners declared bankrupt by the court under the ...
In most jurisdictions, a liquidator's powers are defined by statute. [3] Certain powers are generally exercisable without the requirement of any approvals; others may require sanction, either by the court, by an extraordinary resolution (in a members' voluntary winding up) or the liquidation committee or a meeting of the company's creditors .In the United Kingdom, see sections 165-168 of the ...
Legislation relating to voidable floating charges is intended to prevent abuse of a security interest which catches literally all of the assets of the company, and could be used by person to strip out all of the assets from a company in difficulty from the unsecured creditors. However, if the holder of the floating charge has inserted new money ...
Subdivision 4: Provisions applicable to every Voluntary Winding up; Division 4: Provisions Applicable to Every Mode of Winding up Subdivision 1: General; Subdivision 2: Proof and Ranking of Claims; Subdivision 3: Effect on other Transactions; Subdivision 4: Offences; Subdivision 5: Dissolution; Division 5: Winding up of Unregistered Companies ...
An oppression remedy, intended to operate as an alternative to winding up a company, was adopted as s. 210 of the Companies Act 1948, [8] which declared: . 210. (1) Any member of a company who complains that the affairs of the company are being conducted in a manner oppressive to some part of the members (including himself) or, in a case falling within [s. 169(3)], the Board of Trade, may make ...
The Criminal Justice (Sex Offenders and Miscellaneous Provisions) (Bailiwick of Guernsey) Law, 2013 (Commencement) (No.2) Ordinance, 2015; The Income Tax (Zero 10) (Company Intermediate Rate) (Amendment) (Guernsey) Ordinance, 2015; The Companies (Guernsey) Law, 2008 (Amendment) Ordinance, 2015; The Prison (Guernsey) Law, 2008 (Amendment ...