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Court Of Bankruptcy
A Commissioner of Bankruptcy (England and Wales) was, from 1571 to 1883, an official appointed (initially by commission of the Lord Chancellor) to administer the estate of a bankrupt with full power to dispose of all his lands and tenements.Commissioner of bankrupt. ''Oxford English Dictionary'', Oxford University Press, 2013 Bankrupts were defined as insolvent persons engaged in trade or business and kept distinct from other insolvents until 1861. The proceedings of that administration were the distribution of the property of an insolvent person to that person's creditors in proportion to the debts. History The first formal regulation of the distribution of the property of an insolvent person to that person's creditors was by the Statute of Bankrupts 1542. Administration was delegated to certain members of the Privy Council and the chief justices of King's Bench and Common Pleas. Commissioners of Bankrupts 1571–1883 1571–1831 Under the Bankrupts Act 1571 ( 13 Eliz. 1. c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commissioner
A commissioner (commonly abbreviated as Comm'r) is, in principle, a member of a commission or an individual who has been given a commission (official charge or authority to do something). In practice, the title of commissioner has evolved to include a variety of senior officials, often sitting on a specific commission. In particular, the commissioner frequently refers to senior police or government officials. A high commissioner is equivalent to an ambassador, originally between the United Kingdom and the Dominions and now between all Commonwealth states, whether Commonwealth realms, republics or countries having a monarch other than that of the realms. The title is sometimes given to senior officials in the private sector; for instance, many North American sports leagues. There is some confusion between commissioners and commissaries because other European languages use the same word for both. Therefore titles such as ''commissaire'' in French, ''Kommissar'' in German and '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Court (England) Act 1831
United States bankruptcy courts are courts created under Article I of the United States Constitution. The current system of bankruptcy courts was created by the United States Congress in 1978, effective April 1, 1984. United States bankruptcy courts function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases. The federal district courts have original and exclusive jurisdiction over all cases arising under the bankruptcy code, (see ), and bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters. Technically, the United States district courts have subject matter jurisdiction over bankruptcy matters (see ). However, each such district court may, by order, "refer" bankruptcy matters to the bankruptcy court (see ). As a practical matter, most district courts have a standing "reference" order to that effect, so that all bankruptcy cases in that district are handled, at least init ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Law Of The United Kingdom
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy In England And Wales
Bankruptcy in the United Kingdom is divided into separate local regimes for England and Wales, for Northern Ireland, and for Scotland. There is also a United Kingdom insolvency law, UK insolvency law which applies across the United Kingdom, since bankruptcy refers only to insolvency of individuals and partnerships. Other procedures, for example administration (law), administration and liquidation, apply to insolvent companies. However, the term 'bankruptcy' is often used when referring to insolvent companies in the general media. Bankruptcy in England and Wales In England and Wales, bankruptcy is governed by Part IX of the Insolvency Act 1986 (as amended) and by the Insolvency Rules 1986 (as amended). The term bankruptcy applies only to individuals, not to companies or other legal entities. An individual may be made bankrupt only by court order following the presentation of a bankruptcy petition. An individual may present his own petition on the ground that he is insolvent, i.e. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term ''insolvency'' is generally used for companies formed under the Companies Act 2006. ''Insolvency'' means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is liquidated, meaning that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (SI 1986/1925, replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 (SI 2016/1024) – see below), the Company Directors D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy In The United Kingdom
Bankruptcy in the United Kingdom is divided into separate local regimes for England and Wales, for Northern Ireland, and for Scotland. There is also a UK insolvency law which applies across the United Kingdom, since bankruptcy refers only to insolvency of individuals and partnerships. Other procedures, for example administration and liquidation, apply to insolvent companies. However, the term 'bankruptcy' is often used when referring to insolvent companies in the general media. Bankruptcy in England and Wales In England and Wales, bankruptcy is governed by Part IX of the Insolvency Act 1986 (as amended) and by the Insolvency Rules 1986 (as amended). The term bankruptcy applies only to individuals, not to companies or other legal entities. An individual may be made bankrupt only by court order following the presentation of a bankruptcy petition. An individual may present his own petition on the ground that he is insolvent, i.e. unable to pay his debts. A creditor or creditors may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1861
The Bankruptcy Act 1861 ( 24 & 25 Vict. c. 134) was an act of the Parliament of the United Kingdom. Provisions Section 69 of the act abolished the distinction between traders and non traders, so both could apply for bankruptcy. Section 199 of the act provided that any petition presented after another deed (for example a deed of arrangement with creditors) could be stayed. Short title, commencement and extent Section 231 of the act provided that the act would not extend Scotland and Ireland unless expressly provided. Section 232 of the act provided that the act would come into force on 6 August 1861 as to the appointment of the officers thereby authorised to be appointed and on 11 October 1861 as to all other matters and things. Section 232 of the act provided that the act may be cited as "The Bankruptcy Act, 1861". Legacy The whole act was repealed by section 20 of the Bankruptcy Repeal and Insolvent Court Act 1869 ( 32 & 33 Vict. c. 83). Bankruptcy Amendment Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1842
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, meaning the term ''bankruptcy'' is not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian language, Italian , literally meaning . The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery" until the creditor recouped losses through their Manual labour, physical labour. Many city-states in ancient Greece lim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1883
Bankruptcy Act (with its variations) is a stock short title used for legislation in Australia, Hong Kong, Malaysia, the Republic of Ireland, the United Kingdom and the United States relating to bankruptcy. The Bill for an Act with this short title will usually have been known as a Bankruptcy Bill during its passage through Parliament. Bankruptcy Acts may be a generic name either for legislation bearing that short title or for all legislation which relates to bankruptcy. List Australia *The Bankruptcy Act 1924 *The Bankruptcy Act 1930 *The Bankruptcy Act 1966 Hong Kong *The Bankruptcy Ordinance 1932 *The Bankruptcy (Amendment) Ordinance 2005 Malaysia *The Bankruptcy Act 1967 Nigeria * The Bankruptcy Act 1979 * The Bankruptcy Act 2004 Republic of Ireland *The Bankruptcy Act 1988 (No 27) United Kingdom * The Statute of Bankrupts (1542) ( 34 & 35 Hen. 8. c. 4) * The act 21 Jas. 1. c. 19 is sometimes called the Bankruptcy Act 1623 * The Bankruptcy Act 1705 * The act 6 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Chancery
The Court of Chancery was a court of equity in England and Wales that followed a set of loose rules to avoid a slow pace of change and possible harshness (or "inequity") of the Common law#History, common law. The Chancery had jurisdiction over all matters of equity (law) , equity, including English trusts law, trusts, English land law, land law, the estates of Mental illness, lunatics and the guardianship of infants. Its initial role differed somewhat: as an extension of the lord chancellor's role as Keeper of the King's Conscience, the court was an administrative body primarily concerned with conscientious law. Thus the Court of Chancery had a far greater remit than the common-law courts (whose decisions it had the jurisdiction to overrule for much of its existence) and was far more flexible. Until the 19th century, the Court of Chancery could apply a far wider range of remedies than common law courts, such as specific performance and injunctions, and had some power to gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Chancellor
The Lord Chancellor, formally titled Lord High Chancellor of Great Britain, is a senior minister of the Crown within the Government of the United Kingdom. The lord chancellor is the minister of justice for England and Wales and the highest-ranking Great Officers of State (United Kingdom), Great Officer of State in Scotland and England, nominally outranking the Prime Minister of the United Kingdom, prime minister. The lord chancellor is appointed and dismissed by the British monarchy, sovereign on the advice of the prime minister. Prior to the Acts of Union 1707, union of England and Scotland into the Kingdom of Great Britain, there were separate lord chancellors for the Kingdom of England (including Wales) and the Kingdom of Scotland. Likewise, the Lordship of Ireland and its successor states (the Kingdom of Ireland and History of Ireland (1801–1923), United Kingdom of Great Britain and Ireland) maintained the office of Lord Chancellor of Ireland, lord chancellor of Ireland u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
