Please enable JavaScript.
Coggle requires JavaScript to display documents.
examinership - Coggle Diagram
examinership
consequences
-
-
effect on creditors
ordinary, secured, guarantors
priority 554 of examiners costs and expenses - Re Sharmane Ltd entitled to apymetn even if scheme of arrangment fails
-
-
-
520(5) all court actions prevent unless get leave of court - Re Goodman Internaitonal Mareva injunction was refused
-
bringing the petition
utmost good faith
-
Wogans - directors knew large sums owed to Revenue but not disclsoed, considered by court obe abuse of process
-
-
-
locus standi 510
brought by company (oridnayr resolution likely), directors, creditors (sony and golden disks), members qua members, central bank
physically bring to court, advertise in newspapers
-
-
-
-
likelihood of success
-
509 test
grounds - company likely to be unable to pay debts, no resolution exists for winding up of company and no order made for winding up
-
duties and powers
duties
-
534 - as soon as practical after appointment formulate proposals for compromise or scheme of arrangment
-
-
powers
528 - transfer to him powers of directors - rare - usually if directors acting against companeis interests
-
-
-
repudiate contracts Re Liinen Supply of Ireland leases can be repudaited (shut down worst performing stores)
-