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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]
The court may appoint an official receiver, and one or more liquidators, and has general powers to enable rights and liabilities of claimants and contributories to be settled. Separate meetings of creditors and contributories may decide to nominate a person for the appointment of a liquidator and possibly of a supervisory liquidation committee.
The judiciary has a hierarchical structure with the California Supreme Court at the top, California Courts of Appeal as the primary appellate courts, and the California Superior Courts as the primary trial courts. The policymaking body of the California courts is the Judicial Council and its staff. [2]
Lawmakers are “clearing the decks” of easier budget ideas as a projected deficit of up to $73 billion looms. California lawmakers approve $17 billion in budget fixes. How they would impact the ...
Lawmakers have proposed $17 billion in program cuts as part of an effort to reduce the deficit.
The tax essentially acts as a mechanism to allow California to collect billions in additional federal funds for Medi-Cal, California's healthcare system for low-income residents, as Democrats ...
The California Commission on Judicial Appointments is a body of the government of California established in its current form in 1979 that is responsible for reviewing and confirming justices appointed by the Governor of California to the Supreme Court of California and judges appointed by the Governor to the California Courts of Appeal. [1]
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 ...