Liquidation proceedings definition

Liquidation proceedings means the proceedings aimed to provide satisfaction, as laid down in this Act, to the creditors of an insolvent debtor upon its winding-up without succession.
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Liquidation proceedings refers to the TOEMT 1 Liquidation Proceeding and the TOEMT 2 Liquidation Proceeding;
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Examples of Liquidation proceedings in a sentence

  • Liquidation proceedings shall be carried out in accordance with the relevant provisions of the Turkish Commercial Code.

  • The pendency of Liquidation proceedings of Ganpati having its registered office in Ahemdabad before the Ld. Company Judge of this Hon’ble High Court of Gujarat is a separate proceeding in respect of Ganpati and has nothing to do with the corporate entity of SIL or the assets owned by SIL, having its registered office in Delhi being subject to the jurisdiction of Delhi only.

  • Liquidation proceedings may forfeit the economic value of the firm associated with it being a going concern.

  • Liquidation proceedings against SAFE were in fact initiated in 2013.

  • In opposition, Amwest argues that: “All documents submitted in conjunction with the Fitzgibbons Affidavit are contained in the Amwest ‘claim file.’ The claim file was compiled in connection with Amwest’s Liquidation proceedings and used under Fitzgibbon’s supervision and control and in his position as Amwest’s Special Deputy Liquidator.” Pl. Reply in Supp.

  • Liquidation proceedings are regulated separately by the Serbian Commercial Entities Act.

  • Liquidation proceedings would necessitate a change of the Company’s going concern assumption and thus affect the valuation of its assets and liabilities.

  • TJEKA TRAINING MATTERS (PTY) LTD v KPPM CONSTRUCTION (PTY) LTD AND OTHERS 2019 (6) SA 185 (GJ)4Business rescue — Liquidation proceedings already initiated — Effect of application for business rescue — Not suspending appointment, office or powers of provisional liquidators — No legal provision providing for revesting of control of company's property in its directors — Companies Act 71 of 2008, s 131(6).

  • Section 711 applies in both Rehabilitation and Liquidation proceedings.

  • P.O. Box 25603, KAMPALA, an advocate by profession, be and is hereby appointed to act as a Liquidator, to handle all Liquidation proceedings of the Company including; attending to its assets and liabilities in accordance with the Laws of Uganda.

Related to Liquidation proceedings

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Insolvency Proceedings means, with respect to any Person, any case or proceeding with respect to such Person under U.S. federal bankruptcy laws or any other state, federal or foreign bankruptcy, insolvency, reorganization, liquidation, receivership or other similar laws, or the appointment, whether at common law, in equity or otherwise, of any trustee, custodian, receiver, liquidator or the like for all or any material portion of the property of such Person.

  • Formal proceedings means proceedings conducted before a judge with notice to interested persons.

  • criminal proceedings means criminal proceedings in relation to which the strict rules of evidence apply;

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Proceedings means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration.

  • Informal proceedings means proceedings for probate of a will or appointment of a personal representative conducted by the probate register without notice to interested persons.

  • relevant proceedings means proceedings for contempt of court or proceedings under Schedule 2 to the Anti-social Behaviour, Crime and Policing Act 2014;

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • Bond proceedings means, collectively, this Resolution, the Certificate of Award, the Continuing Disclosure Agreement, the Registrar Agreement, the Purchase Agreement, and such other proceedings of the Board, including the Bonds, that provide collectively for, among other things, the rights of holders and beneficial owners of the Bonds.

  • Insolvency Proceeding means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar relief.

  • Liquidation means the distributions of the Trust Account to the Public Shareholders in connection with the redemption of Ordinary Shares held by the Public Shareholders pursuant to the terms of the Company’s Amended and Restated Memorandum and Articles of Association, as amended, if the Company fails to consummate a Business Combination.

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Current Proceeding means any proceeding conducted under any provisions of this subsection that

  • Liquidation Profits As to any Distribution Date and any Mortgage Loan that became a Liquidated Loan during the Applicable Unscheduled Principal Receipt Period with respect to Full Unscheduled Principal Receipts for such Distribution Date, the excess, if any, of (i) Net Liquidation Proceeds in respect of such Liquidated Loan over (ii) the unpaid principal balance of such Liquidated Loan plus accrued interest thereon in accordance with the amortization schedule at the time applicable thereto at the applicable Net Mortgage Interest Rate from the Due Date to which interest was last paid with respect thereto through the last day of the month preceding the month in which such Distribution Date occurs.

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Insolvency Action With respect to any Person, the taking by such Person of any action resulting in an Insolvency Event, other than solely under clause (g) of the definition thereof.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Chapter 11 Case has the meaning set forth in the Recitals.

  • Chapter 11 Cases means (a) when used with reference to a particular Debtor, the case pending for that Debtor under chapter 11 of the Bankruptcy Code in the Bankruptcy Court and (b) when used with reference to all the Debtors, the procedurally consolidated chapter 11 cases pending for the Debtors in the Bankruptcy Court.

  • Bankruptcy Cases has the meaning set forth in the Recitals.

  • Bankruptcy Case has the meaning assigned to such term in Section 2.05(b).

  • Net Liquidation Proceeds With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.