preferential debt sentence in Hindi
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- The basic duty of the receiver was to realise value for the floating charge holder, although all preferential debts, or those with priority, would have to be paid.
- I find it very difficult to defend the logic which would make the order of priority as between costs and preferential debts dependent upon whether or not there was a floating charge.
- Mr . Wootton's submission at the conclusion of his argument was that if there were free assets, that is to say, assets not covered by some floating charge or debenture, then the proper order for payment would be : first, the costs of the winding up; secondly, the preferential debts; and, thirdly, the floating charge.
- On the other hand if there were no free assets and everything was covered by the floating charge, then the order would be : first, the preferential debts; secondly, the floating charge; and, thirdly, the costs of the winding up-which in practice would mean that whoever did the winding up would not get anything unless he had made some prior bargain.
- It is not easy to reconcile the company's need to continue to collect and use these sums for its own business purposes with the lender's wish to escape from the priority which section 175 ( 2 ) ( b ) gives to preferential debts over the claims of the holder of a floating charge by subjecting the uncollected book debts to a security which will operate as a fixed charge over them.
preferential debt sentences in Hindi. What are the example sentences for preferential debt? preferential debt English meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.