Books > Old Books > Poetry Northwest (1959)


Page 203

CHAPTER 17
DEBENTURES

he must give notice forthwith to the company (s. 372), and within seven days of the appointment, to the Registrar, who must enter it in his register of charges (s. 102). Similarly, when he ceases to act, the receiver must give notice to the Registrar.
A receiver may be appointed by the Court when:
1. The principal is immediately payable.
2. Default has been made in payment of principal or interest .(45)
3. The company is being wound up.(46)
4. The security is in jeopardy.

Re London Pressed Hinge Co., Ltd., [1905] 1 Ch. 576. A creditor obtained judgment against the company, and was in a position to issue execution. There was no default in payment of principal or interest or any breach of the conditions of the debentures by the company. Held, the debenture holders were entitled to the appointment of a receiver, because the security was in jeopardy.
The security is in jeopardy when there is a risk of its being seized and taken to pay claims which are not really prior to the debenture holders'. Accordingly a receiver has been appointed when the company's works were closed and creditors were threatening actions, (47) where execution was actually levied, (48) where a winding-up petition was pending and compulsory liquidation was imminent, (49) and where the company proposed to distribute its reserve fund, which was its only asset. (50)
Mere insufficiency of the security is not jeopardy, where the company bs a going concern, is not being pressed by its creditors and there is ao risk of its assets being seized by its creditors. (51)
Who Can be Appointed.-A body corporate cannot be appointed receiver (s. 366). Also, an undischarged bankrupt cannot be appointed receiver or manager (s. 367). When the company is being wound up, the official receiver may be appointed (s. 368), but this is not usual. (52) When a receiver is appointed by order of the Court, he must give security to the satisfaction of the Court.

45 Bissill v. Bradford Tramways, [1891] W. N. 51.
46 Wallace v. Automatic Machine Co., [1894] 2 Ch. 547.
47 McMahon v. North Kent Ironworks, [1891] 2 Ch. 148.
48 Edwards v. Standard Syndicate, [1893] 1 Ch. 574.
49 Re Victoria Steamboats, [1897] 1 Ch. 158.
50 Re Tilt Cove Copper Co., [1913] 2 Ch. 588.
51 Re New York Taxicab Co., [1913] 1 Ch. 1.
52 British Linen Co. v. South American and Mexican Co., [18941] Ch. 108.

travel books:
where is HTML where is HEAD where is TITLE he must give notice forthwith to what is company (s. 372), and within seven days of what is appointment, to what is Registrar, who must enter it in his register of charges (s. 102). Similarly, when he ceases to act, what is receiver must give notice to what is Registrar. A receiver may be appointed by what is Court when: 1. what is principal is immediately payable. 2. Default has been made in payment of principal or interest .(45) 3. what is company is being wound up.(46) 4. what is security is in jeopardy. Re London Pressed Hinge Co., Ltd., [1905] 1 Ch. 576. A creditor obtained judgment against what is company, and was in a position to issue execution. There was no default in payment of principal or interest or any breach of what is conditions of what is debentures by what is company. Held, what is debenture holders were entitled to what is appointment of a receiver, because what is security was in jeopardy. what is security is in jeopardy when there is a risk of its being seized and taken to pay claims which are not really prior to what is debenture holders'. Accordingly a receiver has been appointed when what is company's works were closed and creditors were threatening actions, (47) where execution was actually levied, (48) where a winding-up petition was pending and compulsory liquidation was imminent, (49) and where what is company proposed to distribute its reserve fund, which was its only asset. (50) Mere insufficiency of what is security is not jeopardy, where what is company bs a going concern, is not being pressed by its creditors and there is ao risk of its assets being seized by its creditors. (51) Who Can be Appointed.-A body corporate cannot be appointed receiver (s. 366). Also, an undischarged bankrupt cannot be appointed receiver or manager (s. 367). When what is company is being wound up, what is official receiver may be appointed (s. 368), but this is not usual. (52) When a receiver is appointed by order of what is Court, he must give security to what is satisfaction of what is Court. 45 Bissill v. Bradford Tramways, [1891] W. N. 51. 46 Wallace v. Automatic Machine Co., [1894] 2 Ch. 547. 47 McMahon v. North Kent Ironworks, [1891] 2 Ch. 148. 48 Edwards v. Standard Syndicate, [1893] 1 Ch. 574. 49 Re Victoria Steamboats, [1897] 1 Ch. 158. 50 Re Tilt Cove Copper Co., [1913] 2 Ch. 588. 51 Re New York Taxicab Co., [1913] 1 Ch. 1. 52 British Linen Co. v. South American and Mexican Co., [18941] Ch. 108. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 203 where is strong CHAPTER 17 DEBENTURES where is p align="justify" he must give notice forthwith to what is company (s. 372), and within seven days of what is appointment, to what is Registrar, who must enter it in his register of charges (s. 102). Similarly, when he ceases to act, what is receiver must give notice to what is Registrar. A receiver may be appointed by what is Court when: 1. what is principal is immediately payable. 2. Default has been made in payment of principal or interest .(45) 3. what is company is being wound up.(46) 4. what is security is in jeopardy. Re London Pressed Hinge Co., Ltd., [1905] 1 Ch. 576. A creditor obtained judgment against what is company, and was in a position to issue execution. There was no default in payment of principal or interest or any breach of what is conditions of what is debentures by the company. Held, what is debenture holders were entitled to what is appointment of a receiver, because what is security was in jeopardy. what is security is in jeopardy when there is a risk of its being seized and taken to pay claims which are not really prior to what is debenture holders'. Accordingly a receiver has been appointed when the company's works were closed and creditors were threatening actions, (47) where execution was actually levied, (48) where a winding-up petition was pending and compulsory liquidation was imminent, (49) and where what is company proposed to distribute its reserve fund, which was its only asset. (50) Mere insufficiency of what is security is not jeopardy, where what is company bs a going concern, is not being pressed by its creditors and there is ao risk of its assets being seized by its creditors. (51) Who Can be Appointed.-A body corporate cannot be appointed receiver (s. 366). Also, an undischarged bankrupt cannot be appointed receiver or manager (s. 367). When what is company is being wound up, what is official receiver may be appointed (s. 368), but this is not usual. (52) When a receiver is appointed by order of what is Court, he must give security to what is satisfaction of what is Court. 45 Bissill v. Bradford Tramways, [1891] W. N. 51. 46 Wallace v. Automatic Machine Co., [1894] 2 Ch. 547. 47 McMahon v. North Kent Ironworks, [1891] 2 Ch. 148. 48 Edwards v. Standard Syndicate, [1893] 1 Ch. 574. 49 Re Victoria Steamboats, [1897] 1 Ch. 158. 50 Re Tilt Cove Copper Co., [1913] 2 Ch. 588. 51 Re New York Taxicab Co., [1913] 1 Ch. 1. 52 British Linen Co. v. South American and Mexican Co., [18941] Ch. 108. where is Server.Execute("_SiteMap.asp") %

Book Pages: _SiteMap , default , 001 , 002 , 003 , 004 , 005 , 006 , 007 , 008 , 009 , 010 , 011 , 012 , 013 , 014 , 015 , 016 , 017 , 018 , 019 , 020 , 021 , 022 , 023 , 024 , 025 , 026 , 027 , 028 , 029 , 030 , 031 , 032 , 033 , 034 , 035 , 036 , 037 , 038 , 039 , 040 , 041 , 042 , 043 , 044 , 045 , 046 , 047 , 048 , 049 , 050 , 051 , 052 , 053 , 054 , 055 , 056 , 057 , 058 , 059 , 060 , 061 , 062 , 063 , 064 , 065 , 066 , 067 , 068 , 069 , 070 , 071 , 072 , 073 , 074 , 075 , 076 , 077 , 078 , 079 , 080 , 081 , 082 , 083 , 084 , 085 , 086 , 087 , 088 , 089 , 090 , 091 , 092 , 093 , 094 , 095 , 096 , 097 , 098 , 099 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 , 108 , 109 , 110 , 111 , 112 , 113 , 114 , 115 , 116 , 117 , 118 , 119 , 120 , 121 , 122 , 123 , 124 , 125 , 126 , 127 , 128 , 129 , 130 , 131 , 132 , 133 , 134 , 135 , 136 , 137 , 138 , 139 , 140 , 142 , 143 , 144 , 145 , 146 , 147 , 148 , 149 , 150 , 151 , 152 , 153 , 154 , 155 , 156 , 157 , 158 , 159 , 160 , 161 , 162 , 164 , 165 , 166 , 167 , 168 , 169 , 170 , 171 , 172 , 178 , 179 , 180 , 181 , 182 , 183 , 184 , 185 , 186 , 187 , 188 , 189 , 190 , 191 , 192 , 193 , 194 , 195 , 196 , 197 , 198 , 199 , 200 , 201 , 202 , 203 , 204 , 205 , 206 , 207 , 209 , 210 , 211 , 212 , 214 , 215 , 217 , 218 , 219 , 220 , 221 , 222 , 223 , 224 , 225 , 226 , 227 , 228 , 229 , 230 , 231 , 232 , 233 , 234 , 235 , 236 , 237 , 238 , 239 , 240 , 241 , 242 , 243 , 244 , 245 , 246 , 247 , 248 , 249 , 250 , 251 , 252 , 253 , 254 , 255 , 256 , 257 , 258 , 259 , 260 , 261 , 262 , 263 , 264 , 265 , 266 , 267 , 268 , 269 , 270 , 271 , 272 , 273 , 274 , 275 , 276 , 277 , 278 , 279 , 280 , 281 , 282 , 283 , 284 , 285 , 287 , 288 , 289 , 290 , 291 , 292 , 293 , 294 , 295 , 296 , 297 , 298 , 299 , 300 , 301 , 302 , 303 , 304 , 305 , 306 , 307 , 308 , 309 , 310 , 311 , 312 , 313 , 314 , 315 , 316 , 317 , 318 , 319 , 320 , 321 , 322 , 323 , 324 , 325 , 326 , 327 , 328 , 329 , 330 , 331 , 332 , 333 , 334 ,