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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]
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders ...
Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA (individual voluntary arrangement), where an insolvency procedure allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate ...
Times have been hard for J.C. Penney Company , even in spite of its early turnaround success. However, when a company's stock falls significantly, one question that the Foolish investor should ...
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asset valuation: the price paid is the value of the "easily salable parts"; the main approaches to valuing these are book value and liquidation value historical earnings valuation: the price is such that the payment for the business (or return targeted by the investor), would have been supported by the business's own earnings or cash-flow ...
The transaction must have been a gift, or a transaction where the company received consideration of money or money's worth which was significantly lower in value than the asset was worth. [6] In Re MC Bacon Ltd (No 1) , the court held that the granting of security could not be considered an undervalue transaction as it does not deplete or ...
A board of directors may pass resolutions at a meeting (pictured) or by way of unanimous circular written resolutions. The directors owe their duties to the company itself, and not to the individual members. [28] Accordingly, where a director acts in breach of their duty, then the proper claimant in any action is the company itself.