In Stiassny v Commissioner of Inland Revenue the court considered whether the receivers of 2 companies trading together in partnership were personally liable for GST on the sale of partnership assets, and whether a claim could be made against the Commissioner of Inland Revenue for money had and received.
ACC had contracted OPC to provide services. OPC's directors later established the OPC Trust, with OPC as the trustee, and 3 residuary trusts as beneficiaries.
The mere existence of a secured remedy against another party is not a substantial ground for refusing to allow a creditor to pursue a remedy against a guarantor.
A liquidator may assign to a third party funder, among other things:
- the rights that are conferred on the liquidator under statute to bring a claim on behalf of the company. For example, rights accruing to the liquidator under the voidable transaction provisions of the Companies Act 1993
- a company's rights that exist at the time of liquidation.
Bank B sought adjudication in bankruptcy of F.
ON THE HORIZON SAUDI ARABIA’S PROPOSED NEW INSOLVENCY LAW AND COMMERCIAL PLEDGE LAW The pace and scale of current regulatory change in Saudi Arabia is remarkable. 2015 alone saw the long awaited Qualified Foreign Investors regulations open the Tadawul (Saudi stock market) to non GCC investors and the even longer awaited announcement of the new Companies Law, as well as a major overhaul of labour regulation.
Han skrev styreprotokoll. Men han glemte å skrive generalforsamlingsprotokoll. Det kostet ham mange hundre tusen kroner. Det er dyrt ikke å passe på formalitetene.
Han hadde startet et eiendomsprosjekt. Banken krevde at 50 prosent av leilighetene måtte selges før igangsettelse. For å oppfylle kravet og sikre likviditet til selskapet ble noen leiligheter solgt med rabatt for å få opp interessen i startfasen. Han kjøpte selv en av leilighetene med rabatt. Han passet på at kjøpet hans ble styrebehandlet.
Enforcement in Norway: Second decision from the Court of Appeal after Supreme Court quash in Deutsche Bank's enforcement action
1 Introduction to Norwegian enforcement
Foreign judgments can be enforced in Norway if (a) the parties have agreed to the jurisdiction of the foreign court or (b) there is a treaty between Norway and the relevant foreign country on the enforcement of judgments. Generally speaking there is only one treaty relevant for the enforcement of foreign commercial judgments in Norway, the Lugano Convention.
Introduction
The Federal High Court Lagos ("FHC”), delivered a ruling in Suit No.: FHC/L/CP/540/2012 RRSAT Global Communications Networks Limited v Daar Communications Plc, affirming its jurisdiction to hear a petition for the winding up of a company despite a clause in the parties’ agreement to submit disputes between the parties to a foreign court.
The facts of the case