4220341
Description
Mind Map by Nadzeera Afiqah, updated more than 1 year ago
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Created by Nadzeera Afiqah
about 9 years ago
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INSOLVENCY
- Procedures that aim to
rescue the company
(Corporate Rescue)
- Administration
- Purposes ( S. 8 together with para 3(1) of Sch B1, IA 1986
- OBJ I : RESCUE THE COMPANY AS A GOING CONCERN
- Administration may save the
company itself, but in practice this
is unusual
- Administration may save the
company itself, but in practice this
is unusual
- OBJ II : ACHIEVE A BETTER RESULT FOR THE COMPANY'S CREDITORS AS
A WHOLE THAN WOULD BE LIKELY IF THE COMPANY WERE WOUND UP
- more commonly obtained with
the business saved by the
administrator selling off the
business to a purchaser but the
company itself being wound up
- more commonly obtained with
the business saved by the
administrator selling off the
business to a purchaser but the
company itself being wound up
- OBJ III : REALIZING THE PROPERTY IN ORDER TO MAKE A DISTRIBUTION TO
ONE OR MORE SECURED FOR PREFERENTIAL CREDITORS
- OBJ I : RESCUE THE COMPANY AS A GOING CONCERN
- Purposes ( S. 8 together with para 3(1) of Sch B1, IA 1986
- Company Voluntary
Arrangement (CVA)
- Standard CVA with no moratorium
- CVA with moratorium for small companies
- Standard CVA with no moratorium
- Administration
- Procedure that allows secured
creditors to recover monies
owned
- Receivership
- a mechanism by which a secured creditor can
recover money owed by a company
- a mechanism by which a secured creditor can
recover money owed by a company
- Receivership
- Procedure that brings
the company to an end
- Liquidation (Winding up)
- Compulsory Winding Up
- Voluntary Winding Up
- Members' Winding Up
- Creditors' Winding Up
- Liquidation's Committee
- Members' Winding Up
- On Ground of Public Interest
- Petitions presented by the Secretary of State
- Petitions presented by the Secretary of State
- Powers of a LIQUIDATOR (Sch 4, IA 1986)
- The ability to pay any creditors in full
- The power to bring or defend legal
proceedings on behalf of the company
- The power to carry on the running of the business
in order to achieve a more beneficial winding up
- The power to sell any of the
company's property
- The ability to pay any creditors in full
- Compulsory Winding Up
- Liquidation (Winding up)
- Avoidance of transactions entered into prior to
the liquidation
- Transactions at an undervalue s238
- Voidable Preferences s239
- Extortionate Credit Transactions s244
- Avoidance of floating charges s245
- Transactions at an undervalue s238
- The personal liability of directors under
INSOLVENCY ACT 1986
- Fraudulent Trading s213
- Wrongful Trading s214
- Re Produce Marketing Consortium Ltd [1989]
- Re Hawkes Hill Publishing Co Ltd [2007]
- Re Produce Marketing Consortium Ltd [1989]
- Misfeasance Proceedings s212
- Fraudulent Trading s213
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