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Punj Lloyd Limited is an Indian Engineering, procurement and construction (EPC) company providing services for energy, infrastructure and defense sectors. The company's operations are spread across the Middle East and Africa, [ 2 ] [ 3 ] Asia Pacific, South Asia and Europe.
Siebe Gorman & Co Ltd v Barclays Bank Ltd [1979] 2 Lloyd's Rep 142 is a UK insolvency law case, concerning the definition of a floating charge. It was an influential decision for many years, but is now outdated as authority in light of the House of Lords decision in Re Spectrum Plus Ltd.
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]
However, the provisions of the Bankruptcy Act, 1919 [4] apply only when an assignment or receiving order has been issued, and the Winding-Up Act applies only in the case of a company which is in course of being wound up. The CCAA, on the other hand, creates powers which can be exercised in case, and only in case, of insolvency.
In 2015, Singapore-based Temasek Holdings purchased Punj Lloyd's 17.74% stake in the company. [10] In 2015, Medanta launched a 160-bed hospital in Indore. [11] Later that year, Medanta acquired the Abdur Razzaque Ansari Memorial Weavers' Hospital on the outskirts of Ranchi from Apollo Hospitals. [12]
I respectfully agree. Elsewhere in his judgment he appears to have assumed that the account into which the proceeds of the book debts were to be paid under the debenture in the Siebe Gorman case [1979] 2 Lloyd's Rep 142 was also a blocked account: p 727, para 38; p 730, para 48. In para 38 he said that the company could collect the money but ...
The charges — as the judge saw (see [1973] 1 Lloyd's Rep. 433) — would have been unenforceable against the liquidator for want of registration under section 95 of the Companies Act 1948 [now Companies Act 2006, section 874]. The “clearing house” creditors are clearly not secured creditors.
Re a Company (No 001418 of 1988) [1990] BCC 526 is a UK insolvency law case, on the offence of fraudulent trading under s.213 of the Insolvency Act 1986. Facts