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Having wound-up the company's affairs, the liquidator must call a final meeting of the members (if it is a members' voluntary winding-up), creditors (if it is a compulsory winding-up) or both (if it is a creditors' voluntary winding-up). The liquidator is then usually required to send final accounts to the Registrar and to notify the court.
Alternatively, a creditor can petition the court for a winding-up order which, if granted, will place the company into what is called compulsory liquidation or winding up by the court. The liquidator realises the assets of the company and distributes funds realised to creditors according to their priorities, after the deduction of costs.
Winding up" is the second stage. [1] [2] Dissolution may also refer to the termination of a contract or other legal relationship; for example, a divorce is the dissolution of a marriage only if the husband or wife does not agree. If the husband and wife agree then it is a dissolution. [dubious – discuss]
PwC halved the estimated costs of winding up British brokerage Beaufort Securities on Wednesday, potentially boosting funds for hard-pressed mining companies and other clients that are expected to ...
The word bankruptcy is derived from Italian banca rotta, literally meaning ' broken bank '. The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted. [1] [2]
The Winding-up and Restructuring Act [1] (French: Loi sur les liquidations et les restructurations, WURA) is a statute of the Parliament of Canada that provides for the winding up of certain corporations and the restructuring of financial institutions. It was passed in 1985, and has been amended since.
Ke – Is used as an abbreviation for Cost of Equity (COE). Ke is the risk-adjusted, theoretical rate of return on a Company's invested excess capital obtained through external investment s. Among other things, the value of Ke and the Cost of Debt (COD) [ 6 ] enables management to arbitrate different forms of short and long term financing for ...
The concept comes from Japan, and the idea is that a disconnected phone booth can give people a space to grieve by “talking” to lost loved ones.