Books > Old Books > Poetry Northwest (1959)


Page 207

CHAPTER 17
DEBENTURES

carrying on the business in the ordinary way and is entitled to be indemnified out of the assets. (68) If, having authority to borrow, he exceeds his authority the burden of proof will be on him to show that it was proper to borrow the excess. (69)

Preferential Payments (s. 94).-When a receiver is appointed, either by the debenture holders or by the Court, in respect of debentures secured by a floating charge, the preferential claims (70) must be satisfied before any payment is made to the debenture holders for principal or interest. Any payment made out of the assets secured by the floating charge can be recouped as far as may be out of the assets available for the general creditors.
If the debentures give a fixed charge on some assets and a floating charge on others, the fixed charge is not subject to the payment of the preferential claims.(61)
A receiver and manager who, after notice of a preferential claim, pays away the company's assets without making any provision for that claim is liable in damages to the preferential creditor.(72)

Remuneration of Receiver.-A receiver appointed by the Court has the amount of his remuneration fixed by the Court, usually after he has passed his first account.
A receiver appointed by the debenture holders under a power in the debentures has his remuneration fixed by agreement. The Court may, however, on the application of the liquidator, fix his remuneration. Under this power the remuneration may be fixed retrospectively, and the excess paid before the making of the application must be accounted for (s. 371).

Delivery of Accounts.-By the terms of his appointment the receiver may be required to render accounts to the debenture holders. Apart from any such duty, a receiver is obliged by section 372 (2) every year and on his ceasing to act as receiver or manager, to send to the Registrar of Companies, the trustees for the debenture holders, the

68 Ex parte Izard (1883), 23 Ch. D. 75.
69 Re British Power Traction and Motor Co., [1906] 1 Ch. 497.
70 See as to these, post, Chap. 21.
71 Re Lewis Merthyr Collieriss, [1929] 1 Ch. 498.
72. Woods v. Winslcill, [1913] 2 Ch. 303.

Page 208

CHAPTER 17
DEBENTURES

company and all the debenture holders, an abstract in the prescribed form of his receipts and payments during the year, and the aggregate amounts of his receipts and payments during the time of his appointment. Except where section 372 (2) applies, a receiver appointed under a power in the debentures, every six months and within a month of his ceasing to act, must deliver to the Registrar an abstract in the prescribed form of his receipts and payments, under a penalty of £5 a day (s. 374).
The Court may also order the receiver to make any returns or give any notices which he is by law required to make or give (s. 375).

travel books:
where is HTML where is HEAD where is TITLE carrying on what is business in what is ordinary way and is entitled to be indemnified out of what is assets. (68) If, having authority to borrow, he exceeds his authority what is burden of proof will be on him to show that it was proper to borrow what is excess. (69) Preferential Payments (s. 94).-When a receiver is appointed, either by what is debenture holders or by what is Court, in respect of debentures secured by a floating charge, what is preferential claims (70) must be satisfied before any payment is made to what is debenture holders for principal or interest. Any payment made out of what is assets secured by what is floating charge can be recouped as far as may be out of what is assets available for what is general creditors. If what is debentures give a fixed charge on some assets and a floating charge on others, what is fixed charge is not subject to what is payment of what is preferential claims.(61) A receiver and manager who, after notice of a preferential claim, pays away what is company's assets without making any provision for that claim is liable in damages to what is preferential creditor.(72) Remuneration of Receiver.-A receiver appointed by what is Court has what is amount of his remuneration fixed by what is Court, usually after he has passed his first account. A receiver appointed by what is debenture holders under a power in what is debentures has his remuneration fixed by agreement. what is Court may, however, on what is application of what is liquidator, fix his remuneration. Under this power what is remuneration may be fixed retrospectively, and what is excess paid before what is making of what is application must be accounted for (s. 371). Delivery of Accounts.-By what is terms of his appointment what is receiver may be required to render accounts to what is debenture holders. Apart from any such duty, a receiver is obliged by section 372 (2) every year and on his ceasing to act as receiver or manager, to send to what is Registrar of Companies, what is trustees for what is debenture holders, what is 68 Ex parte Izard (1883), 23 Ch. D. 75. 69 Re British Power Traction and Motor Co., [1906] 1 Ch. 497. 70 See as to these, post, Chap. 21. 71 Re Lewis Merthyr Collieriss, [1929] 1 Ch. 498. 72. Woods v. Winslcill, [1913] 2 Ch. 303. 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 207 where is strong CHAPTER 17 DEBENTURES where is p align="justify" carrying on what is business in what is ordinary way and is entitled to be indemnified out of what is assets. (68) If, having authority to borrow, he exceeds his authority what is burden of proof will be on him to show that it was proper to borrow what is excess. (69) Preferential Payments (s. 94).-When a receiver is appointed, either by what is debenture holders or by what is Court, in respect of debentures secured by a floating charge, what is preferential claims (70) must be satisfied before any payment is made to what is debenture holders for principal or interest. Any payment made out of what is assets secured by what is floating charge can be recouped as far as may be out of what is assets available for what is general creditors. If what is debentures give a fixed charge on some assets and a floating charge on others, what is fixed charge is not subject to what is payment of what is preferential claims.(61) A receiver and manager who, after notice of a preferential claim, pays away what is company's assets without making any provision for that claim is liable in damages to what is preferential creditor.(72) Remuneration of Receiver.-A receiver appointed by what is Court has what is amount of his remuneration fixed by what is Court, usually after he has passed his first account. A receiver appointed by what is debenture holders under a power in what is debentures has his remuneration fixed by agreement. what is Court may, however, on what is application of what is liquidator, fix his remuneration. Under this power what is remuneration may be fixed retrospectively, and what is excess paid before what is making of what is application must be accounted for (s. 371). Delivery of Accounts.-By what is terms of his appointment what is receiver may be required to render accounts to what is debenture holders. Apart from any such duty, a receiver is obliged by section 372 (2) every year and on his ceasing to act as receiver or manager, to send to what is Registrar of Companies, what is trustees for what is debenture holders, what is 68 Ex parte Izard (1883), 23 Ch. D. 75. 69 Re British Power Traction and Motor Co., [1906] 1 Ch. 497. 70 See as to these, post, Chap. 21. 71 Re Lewis Merthyr Collieriss, [1929] 1 Ch. 498. 72. Woods v. Winslcill, [1913] 2 Ch. 303. where is p align="left" Page 208 where is strong CHAPTER 17 DEBENTURES where is p align="justify" company and all what is debenture holders, an abstract in what is prescribed form of his receipts and payments during the year, and what is aggregate amounts of his receipts and payments during what is time of his appointment. Except where section 372 (2) applies, a receiver appointed under a power in what is debentures, every six months and within a month of his ceasing to act, must deliver to what is Registrar an abstract in what is prescribed form of his receipts and payments, under a penalty of £5 a day (s. 374). what is Court may also order what is receiver to make any returns or give any notices which he is by law required to make or give (s. 375). 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 ,