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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 Social Security Fairness Act makes it possible for those who opted out of Social Security at some point during their career to receive more retirement benefits. It does this in two ways.
Nearly 3 million Americans will receive full Social Security benefits under legislation passed in the waning hours of the current Congress and now headed to President Biden, who is expected to ...
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.
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 ...
The US Senate passed a bipartisan bill early Saturday to increase Social Security benefits for close to 3 million federal, state and local public sector workers, which includes firemen, policemen ...
Security documents generally contained very wide powers of appointment such that on default the creditor could take over the business immediately and without the input of any court. A receiver appointed to the entire business became known as a receiver and manager. The receiver and manager would typically have extensive powers over the business ...
The Social Security Fairness Act would cost $196 billion over the next decade, hasten Social Security’s insolvency by about six months and increase the automatic benefit cuts when they occur ...