The Case of Water Wheel Holdings: A Slippery Tale Water Wheel Holdings Ltd (Holdings) was a successful company listed on the Australia Stock Exchange (ASX). It wholly owned and operated a trading entity called Water Wheel Flour Mills Pty Ltd (Mills)1 from whom business was primarily conducted. Mills was a 127-year-old company that functioned as a commodities and stock feed mill‚ operating out of the town of Bridgewater‚ north-west of Bendigo. Despite rising from humble begins and being a prosperous
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expand her business with a more appropriate structure. As a sole trader‚ Mary has unlimited type of liability. Beside‚ to transfer the ability of interest‚ it would be difficult for Mary because she needs new contracts with creditor. Thus‚ it appears that depend factors such as creditor or public‚ Mary might meet the difficulty to expand her business. Furthermore‚ Mary also can have advantages about loan and can employ others to help her as a sole trader. As for Susan‚ she would incorporate as partnership
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LEGAL ASPECTS OF NON-PERFORMING ASSETS KNOWHOW FOR MANUFACTURE AND TECHNIQUES TO ELIMINATE NON-PERFORMING ASSETS BY PROCESS OF SECURITISATION Securitisation The concept of securitisation has been adopted more recently from the American financial system and has been described as processing of acquiring financial asset and packaging the same for investments by several investors. The term ‘securitisation’ has not been defined as such‚ but has been used in certain rules‚ regulations and
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NOTES OF CASES THECASEOF THE SLIPPERY EQUITY IN Re Vandervell’s Trusts (No. 2)‚’ Lord Denning M.R. said: “ (‘ Hard cases make bad law ’) is a maxim which is quite misleading. It should be deleted from our vocabulary. It comes to this: ‘Unjust decisions make good law’: whereas they do nothing of the kind. Every unjust decision is a reproach to the law or to the judge who administers it.”a Now that it has been decided that there is to be no appeal from the decision of the Court of Appeal‚ it is worth
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LSC BABS SEMESTER 2 Business Accouting Mr S. Palan FINANCE ACCOUNGTING ASSIGNMENT 1.Explain how the fundamental accoungting concepts are used in preparing financial statement. Use examples to illustrate the application of the fundamental accounting concepts. Accouting is the language of business and it is used to communicate finance information. In order for that information make sencse‚ accouting is based on 10 fundamental concepts. These fundamental concepts then form the basic
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MORTGAGE OF LAND AS SECURITY UNDER THE LAND USE ACT 1978 BY DOROTHY E. NELSON** 1. Introduction Land is the very basis of commercial and industrial enterprise in Nigeria. It is the most important factor of production in industry as well as agriculture. Its usefulness and importance cuts across all forms of businesses and professions: Businessmen require land for buildings‚ factories and warehouses; Professionals in practices such as law‚ medicine‚ etc‚ need land to locate their
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Those who support the duty argue that it provides appropriate protection for the unsecured creditors of companies. Those who oppose the duty argue that it has the effect of making directors unduly risk adverse which can result in directors too quickly putting companies into voluntary administration or liquidation for fear of personal liability (which may have a negative financial impact on unsecured creditors). Overview Key points This guide is intended to help directors understand
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DEFINITION OF COMPANY: The Companies Act Cap 110 definition section states that “company” means a company formed and registered under the Act or an existing company. The companies Act does not sufficiently define what a company is but authors have developed a definition of a company. Professor David Bakibinga in his book company law in Uganda at page 2 defines a company as an artificial legal entity separate and distinct from its members or shareholders. This legal person is distinguishable
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member firms affiliated with KPMG International Cooperative (“KPMG International”)‚ a Swiss entity. All rights reserved. Compromise or Arrangement : Power of NCLT to dispense with the creditors meeting restricted. Auditor’s certificate to the effect that the accounting treatment specified in the Scheme is in conformity with the prescribed Accounting Standard is required to be submitted to NCLT. Disclosures in and attachment with notice
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corporate bonds is subject to federal‚ state‚ and local taxes. Corporate bonds characteristics depend on the specific issuing organizations or institution. For example‚ secured bonds are asset –backed bonds; they are issued using specific properties or assets as collateral. When the famous company has a default in its firm‚ the secured bond becomes an unsecured bond (unsecured bond are also known as debenture bonds). They are backed only by the general credit worthless of the issuer. Such as the bonds
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