BLP Flashcards
1
Q
What power does a liquidator have in relation to an onerous lease?
A
A liquidator can disclaim onerous leases. This releases the company from future obligations under the lease. The liquidator has no power to void a lease.
2
Q
Order of priority of creditors for a bankrupt individual
A
- Secured Creditors
- Trustee fees and expenses
- Preferential Creditors
- Unsecured Creditors
- Debts to spouse
3
Q
Applicability of CA 2006 to name of sole trader
A
Business name must comply with requirements in CA 2006.
* Must display real name on business letters and invoices
* Must observe restrictions on sensitive words and expressions
4
Q
What is contained in the Statement of Capital
A
Number of shares
Nominal Value
Class of Shares
Rights attached to shares
