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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 ...
A transaction at an undervalue in U.K. insolvency law can only be pursued by an administrator or liquidator of the company. [5] 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]
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3]
And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract. A judge could order the seller to sign over a deed and complete the sale anyway. “The ...
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 ...
Backing out after signing the contract. A homebuyer can back out of a purchase even after a purchase and sale agreement has been signed. The ramifications of a buyer opting to walk away vary based ...
However, in European countries such as Germany, there are firms which solicitate non-binding initial inspection first and then rolling out the contract. [5] [6] Estate liquidations happen mostly like estate sales, with the liquidators making the home and items to be sold ready for a public sale.
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]