It can take account of personal relationships of mutual trust and confidence in small parties, particularly, for example, where there is a breach of an understanding that all of the members may participate in the business, Upon hearing the application, the court may either dismiss the petition, or make the order for winding-up.The court may dismiss the application if the petitioner unreasonably refrains from an alternative course of action.
kill, murder, remove, destroy, do in (slang), silence, eliminate, take out (slang), get rid of, wipe out (informal), dispatch, finish off, do away with, blow away (slang, chiefly U.
S.), annihilate, exterminate, bump off (slang), rub out (U. slang) Trust Agreement, provided no claim for breach of any representations and warranties under the purchase and sale agreement between Ameri Vest and Koll/PER, LLC has been made or threatened by February 27, 2007, and absent other circumstances under which it would be appropriate for the Trustee to retain the amount reserved pursuant to the purchase and sale agreement, the Trustee has been directed to distribute an additional amount equal to $0.
Where a voluntary liquidation proceeds as a creditors' voluntary liquidation, a liquidation committee may be appointed.
Where a voluntary winding-up of a company has begun, a compulsory liquidation order is still possible, but the petitioning contributory would need to satisfy the court that a voluntary liquidation would prejudice the contributors.
Before the claims are met, secured creditors are entitled to enforce their claims against the assets of the company to the extent that they are subject to a valid security interest.
In most legal systems, only fixed security takes precedence over all claims; security by way of floating charge may be postponed to the preferential creditors.A creditors’ voluntary liquidation (CVL) is a process designed to allow an insolvent company to close voluntarily.The decision to liquidate is made by a board resolution, but instigated by the director(s)., but remaining unliquidated through a combination of circumstances, I have been under the necessity of assuming a garb from which my natural instincts recoil - I allude to spectacles - and possessing myself of a cognomen, to which I can establish no legitimate pretensions., as it is called, and compromised with his creditors, reserving to himself a pretty little capital of some eighty or a hundred thousand dollars, by means of judicious payments to confidential creditors, his wife and daughter saw all THEY most prized taken away, and the town was filled with the magnitude of their sacrifices, and with the handsome manner in which both submitted to make them.S.), annihilate, exterminate, bump off (slang), rub out (U. slang)Suffice it to observe, that it was a masterpiece of eloquence; and that those passages in which he more particularly traced his own successful career to its source, and warned the younger portion of his auditory from the shoals of ever incurring pecuniary liabilities which they were unable to Grounds for liquidation of a legal person may only be the following: 1) resolution by members of a legal person to terminate the activities of a legal person has been passed; 2) the court or the creditor's meeting has passed a decision to a legal person; 4) the term of the legal person has expired; 5) the number of members of a legal person has decreased more than the permitted minimum prescribed by law, where a member of a legal person fails to pass a decision within six months following the decrease to reorganise or restructure a legal person; 6) incorporation of a legal person has been declared invalid subject to the provisions of Article 2.Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation) or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors, see below).