Insolvency – Knowsia

BCL – L1 – Q100 – Legal implications relating to companies in difficulty or in crisis

Discuss issuing certificates to debenture holders, stages of involuntary liquidation, and characteristics of a floating charge.

Question

Kwame Asare believes that debenture holders, though not being shareholders, deserve to be issued certificates. This is because, without their funds, the company cannot survive.

Required:

Explain if you agree or disagree with Kwame Asare on his view on the issue of certificates to debenture holders.

(a) Identify FOUR (4) stages of involuntary liquidation and explain the consequence of each stage identified.

(b) Explain THREE (3) characteristics of a floating charge.

Answer

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Tags: Certificates, Company Assets, Corporate law, Creditors, Debentures, Floating Charge, Insolvency, Involuntary Liquidation, Legal Proceedings, Winding up
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q99 – Legal implications relating to companies in difficulty or in crisis

Circumstances under which a court may order a company's winding up.

Question

(a). Discuss the circumstances under which a court will order a winding up of a company?

(b). Under what circumstances is a company deemed unable to pay its debts?

(c). Can the Attorney-General cause a company to wind up at a press conference?

(d). Briefly explain: mergers, insolvency, and amalgamation.

Answer

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Tags: Attorney-General, Company Law, Insolvency, Legal process, Winding up
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q97 – Legal implications relating to companies in difficulty or in crisis

State the two types of winding up under the Companies Act.

Question

(a) State the two types of winding up.

(b) Giving examples, indicate the role(s) of the registrar, if any, in winding up of a company.

(d) Explain the contents of ‘Statement of Affairs’ as required to be submitted to the liquidator.

Answer

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Tags: Assets, Insolvency, Liabilities, Liquidator, Statement of affairs
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q96 – Legal implications relating to companies in difficulty or in crisis

Differentiate between receiver and liquidator, and winding up and dissolution.

Question

(a) Briefly differentiate between the following:

(i) Receiver and liquidator

(ii) Winding up and dissolution

(b) Kwame is the Finance Director of Golden Enterprises Limited, an insolvent company whose creditors have applied to the court to appoint a receiver. Kwame wants to be appointed as a receiver since he is very much vested with the details of the company and feels better placed to deal with the creditors than any new person. Alternatively, his consultancy company, Grace Consult, should be appointed as a receiver.

What is your view?

Answer

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Tags: Dissolution, Insolvency, Liquidator, Receiver, Winding up
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q93 – Legal implications relating to companies in difficulty or in crisis

Identify five situations where a court can order a company to wind up.

Question

Identify FIVE (5) situations in which a company can be ordered by court to wind up.

Answer

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Tags: Company Law, Court Order, Illegal Business, Insolvency, Winding up
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q92 – Legal implications relating to companies in difficulty or in crisis

State the effect on the Board of Directors when a liquidator is appointed in private liquidation.

Question

State what happens to the Board of Directors of a company limited by shares on the appointment of a Liquidator in respect of private liquidation.

Answer

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Tags: Board of Directors, Company Law, Insolvency, Liquidator, Private Liquidation
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

BCL – L1 – Q90 – Legal implications relating to companies in difficulty or in crisis

Discuss legal options for companies in financial distress and their implications for stakeholders.

Question

Discuss the legal options available to companies facing financial distress and the implications for stakeholders.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Company Law, Creditors, Debt Restructuring, Financial Distress, Insolvency, Stakeholders
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis

Tag (SQ): Insolvency

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BCL – L1 – Q100 – Legal implications relating to companies in difficulty or in crisis

Discuss issuing certificates to debenture holders, stages of involuntary liquidation, and characteristics of a floating charge.

BCL – L1 – Q99 – Legal implications relating to companies in difficulty or in crisis

Circumstances under which a court may order a company's winding up.

BCL – L1 – Q97 – Legal implications relating to companies in difficulty or in crisis

State the two types of winding up under the Companies Act.

BCL – L1 – Q96 – Legal implications relating to companies in difficulty or in crisis

Differentiate between receiver and liquidator, and winding up and dissolution.

BCL – L1 – Q93 – Legal implications relating to companies in difficulty or in crisis

Identify five situations where a court can order a company to wind up.

BCL – L1 – Q92 – Legal implications relating to companies in difficulty or in crisis

State the effect on the Board of Directors when a liquidator is appointed in private liquidation.

BCL – L1 – Q90 – Legal implications relating to companies in difficulty or in crisis

Discuss legal options for companies in financial distress and their implications for stakeholders.

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Tag (SQ): Insolvency

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BCL – L1 – Q100 – Legal implications relating to companies in difficulty or in crisis

Discuss issuing certificates to debenture holders, stages of involuntary liquidation, and characteristics of a floating charge.

You're reporting an error for "BCL – L1 – Q100 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q99 – Legal implications relating to companies in difficulty or in crisis

Circumstances under which a court may order a company's winding up.

You're reporting an error for "BCL – L1 – Q99 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q97 – Legal implications relating to companies in difficulty or in crisis

State the two types of winding up under the Companies Act.

You're reporting an error for "BCL – L1 – Q97 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q96 – Legal implications relating to companies in difficulty or in crisis

Differentiate between receiver and liquidator, and winding up and dissolution.

You're reporting an error for "BCL – L1 – Q96 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q93 – Legal implications relating to companies in difficulty or in crisis

Identify five situations where a court can order a company to wind up.

You're reporting an error for "BCL – L1 – Q93 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q92 – Legal implications relating to companies in difficulty or in crisis

State the effect on the Board of Directors when a liquidator is appointed in private liquidation.

You're reporting an error for "BCL – L1 – Q92 – Legal implications relating to companies in difficulty or in crisis"

BCL – L1 – Q90 – Legal implications relating to companies in difficulty or in crisis

Discuss legal options for companies in financial distress and their implications for stakeholders.

You're reporting an error for "BCL – L1 – Q90 – Legal implications relating to companies in difficulty or in crisis"

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