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Page 230

CHAPTER 20
WINDING UP BY THE COURT

'(b) the voluntary act of the company. A payment made under pressure is not a fraudulent preference. (38)
Re X. Kushler, Ltd., [1943] Ch. 248. K. and his wife were sole directors and shareholders of a company. The company's overdraft was guaranteed by K. On D-iay 12 the directors were advised the company were insolvent. Between May 12 and 23, payments were made into the bank extinguishing the overdraft, and on May 23 a winding-up resolution was passed. No trade creditors were paid between May 12 and 23. Held, a fraudulent preference.

When property is taken by the liquidator as a fraudulent preference of a person interested in property charged to secure the company's debt, that person has the same rights and liabilities as if he were a surety for the debt to the extent of the charge on the property (s. 321).
The bankruptcy rule as to reputed ownership does not apply to companies. (39)
The liquidator can sell or otherwise realise the property of the company, and it is his duty to collect the assets of the company and apply them in discharge of its liabilities (s. 257).
Discovery of the Property of the Company (s. 268).-The Court may examine on oath any officer of the company, any person known or suspected to have in his possession any property of the company or supposed to be indebted to the company, or any person thought capable of giving any information as to the company or its property or affairs. The answers are reduced into writing and signed. If a person summoned for examination does not appear, he may be apprehended and brought before the Court for examination.
An order for an examination is usually made on the application of the liquidator, but may be made on the application of a contributory. The examination is in private.
Public Examination (s. 270).-In bankruptcy, the bankrupt must always undergo a public examination. When a company goes into liquidation, however, a public examination only takes place if an order has been made. The Court has power to make an order for the public examination of a promoter, director or other officer of the company, if the Official Receiver makes a further report to the Court stating that in his opinion fraud has been committed in the formation or promotion of the company or in relation to the company since its formation.

38 Sharp v. Jackson, [1899] A. C. 419.
39 Gorringe v. Irwell Zndia Rubber Co. (1886), 34 Ch. D. 128.

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where is HTML where is HEAD where is TITLE '(b) what is voluntary act of what is company. A payment made under pressure is not a fraudulent preference. (38) Re X. Kushler, Ltd., [1943] Ch. 248. K. and his wife were sole directors and shareholders of a company. what is company's overdraft was guaranteed by K. On D-iay 12 what is directors were advised what is company were insolvent. Between May 12 and 23, payments were made into what is bank extinguishing what is overdraft, and on May 23 a winding-up resolution was passed. No trade creditors were paid between May 12 and 23. Held, a fraudulent preference. When property is taken by what is liquidator as a fraudulent preference of a person interested in property charged to secure what is company's debt, that person has what is same rights and liabilities as if he were a surety for what is debt to what is extent of what is charge on what is property (s. 321). what is bankruptcy rule as to reputed ownership does not apply to companies. (39) what is liquidator can sell or otherwise realise what is property of what is company, and it is his duty to collect what is assets of what is company and apply them in discharge of its liabilities (s. 257). Discovery of what is Property of what is Company (s. 268).-The Court may examine on oath any officer of what is company, any person known or suspected to have in his possession any property of what is company or supposed to be indebted to what is company, or any person thought capable of giving any information as to what is company or its property or affairs. what is answers are reduced into writing and signed. If a person summoned for examination does not appear, he may be apprehended and brought before what is Court for examination. An order for an examination is usually made on what is application of what is liquidator, but may be made on what is application of a contributory. what is examination is in private. Public Examination (s. 270).-In bankruptcy, what is bankrupt must always undergo a public examination. When a company goes into liquidation, however, a public examination only takes place if an order has been made. what is Court has power to make an order for what is public examination of a promoter, director or other officer of what is company, if what is Official Receiver makes a further report to what is Court stating that in his opinion fraud has been committed in what is formation or promotion of what is company or in relation to what is company since its formation. 38 Sharp v. Jackson, [1899] A. C. 419. 39 Gorringe v. Irwell Zndia Rubber Co. (1886), 34 Ch. D. 128. 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 230 where is strong CHAPTER 20 WINDING UP BY what is COURT where is p align="justify" '(b) what is voluntary act of what is company. A payment made under pressure is not a fraudulent preference. (38) Re X. Kushler, Ltd., [1943] Ch. 248. K. and his wife were sole directors and shareholders of a company. what is company's overdraft was guaranteed by K. On D-iay 12 what is directors were advised the company were insolvent. Between May 12 and 23, payments were made into what is bank extinguishing what is overdraft, and on May 23 a winding-up resolution was passed. No trade creditors were paid between May 12 and 23. Held, a fraudulent preference. When property is taken by what is liquidator as a fraudulent preference of a person interested in property charged to secure what is company's debt, that person has what is same rights and liabilities as if he were a surety for what is debt to what is extent of what is charge on what is property (s. 321). what is bankruptcy rule as to reputed ownership does not apply to companies. (39) what is liquidator can sell or otherwise realise what is property of the company, and it is his duty to collect what is assets of what is company and apply them in discharge of its liabilities (s. 257). Discovery of what is Property of what is Company (s. 268).-The Court may examine on oath any officer of what is company, any person known or suspected to have in his possession any property of what is company or supposed to be indebted to what is company, or any person thought capable of giving any information as to what is company or its property or affairs. what is answers are reduced into writing and signed. If a person summoned for examination does not appear, he may be apprehended and brought before what is Court for examination. An order for an examination is usually made on what is application of what is liquidator, but may be made on what is application of a contributory. what is examination is in private. Public Examination (s. 270).-In bankruptcy, what is bankrupt must always undergo a public examination. When a company goes into liquidation, however, a public examination only takes place if an order has been made. what is Court has power to make an order for what is public examination of a promoter, director or other officer of what is company, if what is Official Receiver makes a further report to what is Court stating that in his opinion fraud has been committed in what is formation or promotion of what is company or in relation to what is company since its formation. 38 Sharp v. Jackson, [1899] A. C. 419. 39 Gorringe v. Irwell Zndia Rubber Co. (1886), 34 Ch. D. 128. where is Server.Execute("_SiteMap.asp") %

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