Business Law Case: Property Convergence Apparel
Part A
Question 1:
In this case, there were two parties. Mrs MARTIN FRANCIS BYRNES is the appellant who filled the case. Mr JOAN WILHELMINA BYRNES is another appellant and son of Mrs MARTIN FRANCIS BYRNES. Mr JOAN WILHELMINA BYRNES is also solicitor on behalf of his mother and regularly gave legal advice to his mother regarding to property and affairs. Mr CLIFFORD FRANK KENDLE is the responded. Mrs Byrnes and MrKendle married in 1980 when Mrs Byrnes was 60 years old and MrKendle was 57. It was a second marriage for Mrs Byrnes and MrKendle and both of them had adult children from their previous marriage. In early 2007, Mrs Byrnes and MrKendle separated. From 1995 and until 2001 Mrs Byrnes and Mr Kendle lived in the house at Rachel Street …show more content…
If property is vested in a liquidator on trust immediately before deregistration, that property vests in the Commonwealth. This subsection extends to property situated outside this jurisdiction.
Other company property vests in ASIC (2) On deregistration, all the company 's property (other than any property held by the company on trust) vests in ASIC. If company property is vested in a liquidator (other than any company property vested in a liquidator on trust) immediately before deregistration, that property vests in ASIC. This subsection extends to property situated outside this jurisdiction.
Rights and powers in respect of property (3) Under subsection (1A) or (2), the Commonwealth or ASIC takes only the same property rights that the company itself held. If the company held particular property subject to a security or other interest or claim, the Commonwealth or ASIC takes the property subject to that interest or claim.
Note: See also subsection 601AE(3)--which deals with liabilities that a law imposes on the property (particularly liabilities such as rates, taxes and other
Question 1:
In this case, there were two parties. Mrs MARTIN FRANCIS BYRNES is the appellant who filled the case. Mr JOAN WILHELMINA BYRNES is another appellant and son of Mrs MARTIN FRANCIS BYRNES. Mr JOAN WILHELMINA BYRNES is also solicitor on behalf of his mother and regularly gave legal advice to his mother regarding to property and affairs. Mr CLIFFORD FRANK KENDLE is the responded. Mrs Byrnes and MrKendle married in 1980 when Mrs Byrnes was 60 years old and MrKendle was 57. It was a second marriage for Mrs Byrnes and MrKendle and both of them had adult children from their previous marriage. In early 2007, Mrs Byrnes and MrKendle separated. From 1995 and until 2001 Mrs Byrnes and Mr Kendle lived in the house at Rachel Street …show more content…
If property is vested in a liquidator on trust immediately before deregistration, that property vests in the Commonwealth. This subsection extends to property situated outside this jurisdiction.
Other company property vests in ASIC (2) On deregistration, all the company 's property (other than any property held by the company on trust) vests in ASIC. If company property is vested in a liquidator (other than any company property vested in a liquidator on trust) immediately before deregistration, that property vests in ASIC. This subsection extends to property situated outside this jurisdiction.
Rights and powers in respect of property (3) Under subsection (1A) or (2), the Commonwealth or ASIC takes only the same property rights that the company itself held. If the company held particular property subject to a security or other interest or claim, the Commonwealth or ASIC takes the property subject to that interest or claim.
Note: See also subsection 601AE(3)--which deals with liabilities that a law imposes on the property (particularly liabilities such as rates, taxes and other