Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XX. Winding up

Collection:: Economics Books

258 SECRETARIAL PRACTICE the list of offences includes such matters as the following: — Failure to disclose to the liquidator any property of the company. Failure to deliver up to the liquidator property books or papers. Concealment or fraudulent removal of any property of the value of £10 or upwards. Making any material omission in any statement of affairs. Concealment or falsification in any book or paper. Making false entries in any book or paper. Obtaining property on credit by fraud within twelve months before commencement of winding up. Making any transfer of property with intent to defraud creditors. Distribution of Assets. Omitting to keep proper books of account throughout the period of two years immediately preceding commencement of the winding up. Carrying on any business of the company with intent to defraud creditors or for any fraudulent purpose. Only directors of the company, as defined by s. 275 (5), can be convicted of the last-mentioned offence. If it appears that any business of the company has been carried on fraudulently within the section, the Court may declare that any of the directors past or present, who were knowingly parties to the fraud shall be personally responsible, without any limitation of liability for all or any of the debts or other liabilities of the company as the Court may direct. The duty of the liquidator in distributing the assets may now be considered. Where the assets are insufficient to pay in full the liabilities of the company and the costs of the liquidation, the liquidator must be careful to observe the legal priorities. The first payments to be made are pay- ments of the expenses of the liquidation, for s. 254 of the Act enacts that ‘all costs, charges, and expenses properly incurred in the winding up, including the remuneration of the liquidator, shall be payable out of the assets of the company in priority to all other claims.” The expenses will, of course, include legal expenses properly incurred. Whether or not a solicitor’s bill should be taxed is, in a voluntary winding up, a matter for the liquidator to consider; if he requires it to be taxed he must apply to the Court, as usual, under s. 252. In a compulsory winding up the matter must be referred to the Registrar, pursuant to Rule 192 of the Winding-up Rules. It will be noticed that the liquidator’s own remuneration is

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