General Insolvency Inquiry, 1 by Australia

Cover of: General Insolvency Inquiry, 1 | Australia

Published by Australian Government Publishing Service .

Written in English

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Subjects:

  • Bankruptcy & Insolvency,
  • Legal Reference / Law Profession

Edition Notes

Occasional Papers (Paperback)

Book details

The Physical Object
FormatPaperback
Number of Pages429
ID Numbers
Open LibraryOL11026057M
ISBN 100644086041
ISBN 109780644086042

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Additional Physical Format: Online version: General insolvency inquiry. Sydney: The Commission, [?] (OCoLC) Material Type: Government publication, National government publication.

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Judge Megarry in Re Rolls Razor Limited1, aptly describes the necessity of insolvency enquiries:“The process is needed because of the great difficulty in which the liquidator in an insolvent company is necessarily placed.

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Price New from Used from Cited by: The Harmer Report, where it all began On 20 Novemberthe federal Attorney-General called for an inquiry “ into the law and practice relating to the insolvency of both individuals and bodies corporate, in particular – (b) Parts VIII, X, XII of the Companies Act so far as they are related to or are concerned with the insolvency of companies; (c) any related matter.” 1.

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It has a spelling mistake. Judge Megarry in Re Rolls Razor Limited 1, aptly describes the necessity of insolvency enquiries: “The process is needed because of the great difficulty in which the liquidator in an. The equivalents for administrator are to be found in Insolvency Rulesr (2) read with r (2), (3) (Insolvency Rulesrr (3C) and (5)) (note that, as pointed out earlier, where the unsecured creditors are out of the money, the decision would be made by the secured creditors or the secured creditors and preferential.

INSOLVENCY LAW 1 PART 1: GENERAL 1. Title and repeal (1) This Law may be cited as the "Insolvency Law " or "this Law". (2) This Law repeals and replaces the Insolvency Law (DIFC Law No.

3 of ) as it was in force immediately prior to. INSOLVENCY INSOLVENCY ACT 24 OF [ASSENTED TO 17 JUNE ] [DATE OF COMMENCEMENT: 1 JULY ] (Signed by the Governor-General in Afrikaans) as amended by Finance Act 17 of Income Tax Act 31 of Hire-Purchase Act 36 of Insolvency Law Amendment Act 16 of Insurance Act 27 of Merchant Shipping Act 57 of File Size: KB.

An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public.

(1) The following applies where a person engaged in any business makes a general assignment to another person of his existing or future book debts, or any class of them, and is subsequently [made] bankrupt. (2) The assignment is void against the trustee of the bankrupt's estate as regards book debts which were not paid before the [making of the bankruptcy application or (as the case may be.

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Material Changes (1) The content in this IRM section has been updated to provide clarification and expansion of existing material. Insolvency in South African law refers to a status of diminished legal capacity (capitis diminutio) imposed by the courts on persons who are unable to pay their debts, or (which amounts to the same thing) whose liabilities exceed their insolvent's diminished legal capacity entails deprivation of certain of his important legal capacities and rights, in the interests of protecting.

Insolvency Act An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners.

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Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment.De Jure (UNCITRAL) There is furthermore a general recognition that, in turn, those systems depend on the existenc e of strong and efficient regulatory frameworks While the primary focus of the reform process of insolvency law and institutions should thus be on how best to serve the.(1) Sections and of this Act apply with Setting aside of preferences and other transactions.

(1) A preference given, assignment made or other transaction entered Bankruptcy offences. (1) Where a bankruptcy order is made under this Act Power to make rules. (1) The preceding provisions of this Part of this Schedule.

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