Minister of Mineral Resources, Green Technology and Energy Security, Mr Eric Molale says P956 million has been spent on the liquidation
of BCL Mine.
The focus of the liquidation
will now shift to the provision of limited transitional services for some supplier and finalising Carillions trading accounts to ensure that payment is made to suppliers who have provided goods and services to the various liquidations
of the bankrupt merchant are of two types:
Note that in the case of de facto liquidations
, there may be no materially appreciated assets (if there are any assets at all); however, this should be confirmed on a case-by-case basis.
are forecast to hit an 18-year high with the number of businesses being wound up in the UK reaching more than 25,600 in 2009/10.
result in the closure of the business, realisation of assets and distribution of funds amongst the company's creditors.
With personal debt reaching a reported pounds 1 trillion, it is no wonder the latest figures for company liquidations
and individual insolvencies are not good, says Midland chartered accountant Dains.
There were 3,439 company liquidations
in England and Wales in the first quarter of 2006 on a seasonally adjusted basis.
The demise of the General Utilities doctrine, the narrowing of the ordinary income/capital gain rate differential, and the introduction of section 338 reduced the efficacy of partial liquidations
. Ultimately, partial liquidations
suffered the ignominy of the repeal of section 346 and the enactment of a subsection in the redemption rules (section 302(b)(4)).
The proclivity of corporations to restructure, together with what is likely to be a reduction in tax rates for capital gain, suggests partial liquidations
may regain popularity.
The dramatic increase in the past few years of limited liability companies (LLCs) treated as partnerships as the entity of choice has lead to an increase in liquidations
of member interests.
have become a more prominent revenue source for both legal and accounting firms.