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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.
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]
As Malins V.-C. said in Cadiz Waterworks Co. v. Barnett, (1874) L.R. 19 Eq. 182, 196 if the court “sees a petition to wind up presented, not for a bona fide purpose of winding up the company, but for some collateral and sinister object, on that ground it will be dismissed with costs.” There the purpose of winding up the company is treated ...
Hong Kong's High Court approved on Monday an application by China Evergrande Group and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7. An investor in ...
Throughout Malaysia: Passed by: Dewan Rakyat: Passed: 9 August 1965: Enacted: 1965 (Act No. 79 of 1965) Revised: 1973 (Act 125 w.e.f. 14 December 1973) Passed by: Dewan Negara: Passed: 16 August 1965: Effective [Throughout Malaysia—15 April 1966, P.U. 168/1966] Repealed: 31 January 2017: Legislative history; First chamber: Dewan Rakyat; Bill ...
A Hong Kong court on Monday adjourned a winding up hearing for property developer China Evergrande Group’s until Dec. 4. Evergrande has been in crisis since it defaulted on its debt obligations ...
A petition is a request to do something, most commonly addressed to a government official or public entity. Petitions to a deity are a form of prayer called supplication.. In the colloquial sense, a petition is a document addressed to an official and signed by numerous individuals.
In finance, a floating charge is a security interest over a fund of changing assets of a company or other legal person.Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock.