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Page 229

CHAPTER 20
WINDING UP BY THE COURT

THE PROPERTY OF THE COMPANY
When a winding-up order has been made, or a provisional liquidator appointed, the liquidator takes into his custody or under his control all the property to which the company is entitled (s. 243).
Winding up does not, as does bankruptcy, operate as a cessio bonorum, but the company's property remains vested in it as before. (36) The liquidator has therefore to get the property into his possession. Under s. 244 the Court may make an order vesting any property in him in his official name. Ss. 258 and 273 also contain wide powers to enable the liquidator to get the company's property into his custody.
The property to which the company is entitled, and which the liquidator can accordingly take into his custody is:
1. Property belonging to the company at the commencement of the winding up.
2. Property against which execution has been issued, unless the execution has been completed before the commencement of the winding up or, if the creditor had notice that a meeting had been called to pass a resolution for voluntary winding up, the date of such notice (s. 325).
Execution is completed by seizure of the goods followed by sale. When a company's goods are taken into execution and the sheriff, before sale, has notice that a winding-up order has been made or that a voluntary winding up has commenced, he must deliver the goods, subject to a charge for the costs of execution, to the liquidator. When the execution is for a sum exceeding £20 the sheriff must retain the proceeds for fourteen days, and, if within that time he receives notice of the commencement of a winding up, he must pay the proceeds to the liquidator (s. 326). The rights conferred on the liquidator by ss. 325 and 326 may be set aside by the Court on terms.
3. Property used by the company to give a fraudulent preference to any of its creditors (s. 320).
The bankruptcy rules as to fraudulent preference apply to companies, except that fraudulent preferences are avoided if made within six months before the commencement of the winding up; s. 44 of the Bankruptcy Act, 1914, is the statutory provision applicable. A payment will be a fraudulent preference, if it is
(a) made with the dominant intention of giving the creditor a preference over the other creditors ; (37) and

36 Re Webb & Co., [1922] 2 Ch. 369, 388.
37 Re 1Y1. I. G. Trust, Ltd., [1934] A. C. 2.5'?

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where is HTML where is HEAD where is TITLE THE PROPERTY OF what is COMPANY When a winding-up order has been made, or a provisional liquidator appointed, what is liquidator takes into his custody or under his control all what is property to which what is company is entitled (s. 243). Winding up does not, as does bankruptcy, operate as a cessio bonorum, but what is company's property remains vested in it as before. (36) what is liquidator has therefore to get what is property into his possession. Under s. 244 what is Court may make an order vesting any property in him in his official name. Ss. 258 and 273 also contain wide powers to enable what is liquidator to get what is company's property into his custody. what is property to which what is company is entitled, and which what is liquidator can accordingly take into his custody is: 1. Property belonging to what is company at what is commencement of what is winding up. 2. Property against which execution has been issued, unless what is execution has been completed before what is commencement of what is winding up or, if what is creditor had notice that a meeting had been called to pass a resolution for voluntary winding up, what is date of such notice (s. 325). Execution is completed by seizure of what is goods followed by sale. When a company's goods are taken into execution and what is sheriff, before sale, has notice that a winding-up order has been made or that a voluntary winding up has commenced, he must deliver what is goods, subject to a charge for what is costs of execution, to what is liquidator. When what is execution is for a sum exceeding £20 what is sheriff must retain what is proceeds for fourteen days, and, if within that time he receives notice of what is commencement of a winding up, he must pay what is proceeds to what is liquidator (s. 326). what is rights conferred on what is liquidator by ss. 325 and 326 may be set aside by what is Court on terms. 3. Property used by what is company to give a fraudulent preference to any of its creditors (s. 320). what is bankruptcy rules as to fraudulent preference apply to companies, except that fraudulent preferences are avoided if made within six months before what is commencement of what is winding up; s. 44 of what is Bankruptcy Act, 1914, is what is statutory provision applicable. A payment will be a fraudulent preference, if it is (a) made with what is dominant intention of giving what is creditor a preference over what is other creditors ; (37) and 36 Re Webb & Co., [1922] 2 Ch. 369, 388. 37 Re 1Y1. I. G. Trust, Ltd., [1934] A. C. 2.5'? 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 229 where is strong CHAPTER 20 WINDING UP BY what is COURT where is p align="justify" THE PROPERTY OF what is COMPANY When a winding-up order has been made, or a provisional liquidator appointed, what is liquidator takes into his custody or under his control all what is property to which what is company is entitled (s. 243). Winding up does not, as does bankruptcy, operate as a cessio bonorum, but what is company's property remains vested in it as before. (36) what is liquidator has therefore to get what is property into his possession. Under s. 244 what is Court may make an order vesting any property in him in his official name. Ss. 258 and 273 also contain wide powers to enable what is liquidator to get the company's property into his custody. what is property to which what is company is entitled, and which what is liquidator can accordingly take into his custody is: 1. Property belonging to what is company at what is commencement of the winding up. 2. Property against which execution has been issued, unless what is execution has been completed before what is commencement of what is winding up or, if what is creditor had notice that a meeting had been called to pass a resolution for voluntary winding up, what is date of such notice (s. 325). Execution is completed by seizure of what is goods followed by sale. When a company's goods are taken into execution and what is sheriff, before sale, has notice that a winding-up order has been made or that a voluntary winding up has commenced, he must deliver the goods, subject to a charge for what is costs of execution, to what is liquidator. When what is execution is for a sum exceeding £20 what is sheriff must retain what is proceeds for fourteen days, and, if within that time he receives notice of what is commencement of a winding up, he must pay what is proceeds to what is liquidator (s. 326). what is rights conferred on what is liquidator by ss. 325 and 326 may be set aside by what is Court on terms. 3. Property used by what is company to give a fraudulent preference to any of its creditors (s. 320). what is bankruptcy rules as to fraudulent preference apply to companies, except that fraudulent preferences are avoided if made within six months before what is commencement of what is winding up; s. 44 of the Bankruptcy Act, 1914, is what is statutory provision applicable. A payment will be a fraudulent preference, if it is (a) made with what is dominant intention of giving what is creditor a preference over what is other creditors ; (37) and 36 Re Webb & Co., [1922] 2 Ch. 369, 388. 37 Re 1Y1. I. G. Trust, Ltd., [1934] A. C. 2.5'? where is Server.Execute("_SiteMap.asp") %

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