The venue hosts theatre, music, comedy, traditional arts, schools' performances and conferences. The Belltable Arts Centre on O'Connell Street hosts local playwrights and drama productions.Belltable Arts Centre goes into liquidation – RTÉ News. Raidió Teilifís Éireann. Retrieved 23 July 2013.
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Most jurisdictions provide for alternative vulnerability periods: a longer one for parties who are "connected" to the company, and a shorter one for unrelated third parties. Under English law, a floating charge in favour of an unconnected third party is only vulnerable if the company goes into liquidation within the next 12 months, but a floating charge in favour of a connected person is vulnerable if the company goes into liquidation within the next 2 years. The effect of laws relating to voidable floating charges varies from jurisdiction to jurisdiction. Some countries simply provide that such charge are automatically void or not enforceable,Under English law they are stated to be "invalid", which is taken to mean unenforceable.
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"Horsing around" The Guardian, 6 January 2007 Authors of Black Dog titles include Rob Young, Lydia Lunch, Bob and Roberta Smith, Carolee Schneemann, Phyllida Barlow, Beth Ditto, Peter Wollen, Suzanne Treister and Karen Knorr. This company went into liquidation in January 2018 owing more than £700,000."Black Dog Publishing goes into liquidation".
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It is perhaps the most expensive form of set off. Under section 323 of the Insolvency Act 1986Rule 4.90 of the Insolvency Rules 1986 for companies. where a person goes into bankruptcy or a company goes into liquidation mutual debts are automatically set-off. This is a mandatory operation in bilateral situations.
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The Court of Appeal held that the assignment of the claim was not proper. The claim under s 214 is only vested in the liquidator. It arises solely when a company goes into liquidation and it would be champertous and against public policy to assign the fruits of such an action. There is no problem in assigning a s 212 action though.
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KPMG news -Oasis goes into liquidation Lehman Brothers Hong Kong Entities – Press room On 8 July 2008, it was announced that unsecured creditors of collapsed Oasis Hong Kong Airlines, including ticket holders, will eventually receive no more than 10 percent of what they are owed, according to the airline's provisional liquidator, KPMG.Reuters On 16 September 2008, this estimate was reduced to 'less than 5%'. No timetable was given for distribution of these funds.at Directnic. Oasishongkong.com.
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Will Holland left the restaurant in September 2013 Ludlow Advertiser Ludlow restaurant in liquidation (12 January 2015) just weeks before the business went into voluntary liquidation.Ludlow Advertiser Famous Ludlow eatery goes into liquidation (6 June 2014) It was immediately resurrected by a newly formed company called Ludlow Restaurants Limited and the restaurant ran as before.Shropshire Star Future looking bright at Ludlow's La Becasse restaurant (9 June 2014) It was however un-rated by the AA and no longer had its previously-held Michelin rating.
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Under Australian law, if a transaction is entered into by a company which subsequently goes into liquidation, and the transaction was entered into by the company for the purpose of defeating, delaying or interfering with the rights of creditors during the 10 years prior to the relation back day, the courts may set it aside. The relation-back day is defined as either the day upon which the application for the company's winding-up was filed, or the date of the commencement of liquidation.
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Where a company goes into liquidation, normally a liquidator is appointed to gather in all the company's assets and settle all claims against the company. If there is any surplus after paying off all the creditors of the company, this surplus is then distributed to the members. As its names imply, applications for compulsory liquidation are normally made by creditors of the company when the company is unable to pay its debts. However, in some jurisdictions, regulators have the power to apply for the liquidation of the company on the grounds of public good, i.e.
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Where a company goes into liquidation, unless the Court otherwise directs, a liquidation committee comprising representatives of key creditors shall be established in respect of every company being wound up by the Court.Companies Winding Up Rules 2008, as amended by the Companies Winding Up (Amendment) Rules 2013. The purpose of the committee is to provide guidance and input on the creditors’ wishes as a body to the liquidator. Where a liquidator is appointed (either voluntarily or by the court), the liquidator's primary duty is to collect in all of the company's assets and then distribute them pari passu to the company's creditors.
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Co- operatives are typically registered under either the Companies Act 2006 or the Co-operative and Community Benefit Societies Act 2014 (IPS), though other legal forms are available. A number of model rules have been devised to enable cooperatives to register under both acts; for workers' cooperatives, these rules restrict membership to those who are employed by the workplace. Most workers' co-operatives are incorporated bodies, which limits the liability if the co-operative fails and goes into liquidation. The largest examples of a British worker cooperatives include, Suma Wholefoods, Bristol-based Essential Trading Co-operative and the Brighton-based Infinity Foods Cooperative Ltd.
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In March 2017, it was reported that Point FM was facing a winding-up petition by PPL for non- payment of licence fees to play music on-air and an unresolved small claims judgement.Denbighshire's Point FM faces liquidation threat due to licence fee 'oversight', Daily Post, 25 March 2017 In July 2017, the High Court ruled in favour of PPL and Point FM was placed into compulsory liquidation.Point FM goes into liquidation after not paying to play records, Daily Post, 11 July 2017 The station ceased broadcasting shortly after the winding up order was issued.Winding-Up Orders - Radio Elwy Point FM Limited, The Gazette, 10 July 2017 In October 2017, OFCOM announced that the station had surrendered its FM licence.
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Once a director realises that his or her company is insolvent, one important thing for him to do is to seek immediate professional advice from a licensed insolvency practitioner. All directors who continue as directors of a company trading while insolvent may face disqualification under the Company Directors Disqualification Act 1986. Under the provision of this act, when a company goes into liquidation, the liquidator must make a report to the Disqualification Unit of the Department for Business, Innovation and Skills on the conduct of all directors. Many legal systems (including English law) recognise the blue sky defence; which broadly provides that, if the directors, in good faith, believed the company was about to turn the corner and improve, they would not normally be held liable for continuing to trade.
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The PayPal Buyer Protection Policy states that the customer may file a buyer complaint if he or she did not receive an item or if the item he or she purchased was significantly not as described. The customer can open a dispute within 180 days from the date of payment and escalate it to a claim within 20 days from opening the dispute. If the buyer used a credit card, he or she might get a refund via chargeback from his or her credit-card company. However, in the UK, where such a purchaser is entitled to specific statutory protections (that the credit card company is a second party to the purchase and is therefore equally liable in law if the other party defaults or goes into liquidation) under Section 75 Consumer Credit Act 1979, the purchaser loses this legal protection if the card payment is processed via PayPal.
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For both individual and creditors, where any creditor also owes money a company or an individual who goes into liquidation or bankruptcy, then upon the making of the order the sums due between the parties are set-off so that only a net sum due is owed either to the creditor or the insolvent party.Insolvency Act 2003, section 150 However, the benefit of that provision can be waived by the creditor so long as any waiver does not operate to the prejudice of other creditors. Where a person has actual notice of the insolvency of another party at the time they extended credit, they cannot set-off any obligations owed if that other party subsequently goes into bankruptcy. Creditors of a person are entitled to enter into subordination agreement to reorder the priority of claims against an insolvent party upon the bankruptcy of that party.
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In other jurisdictions, they are only voidable and an application must be made by a liquidator or creditor for the floating charge to be set aside. In most jurisdictions, a floating charge is only vulnerable to the extent that it does not secure new money for the company.See for example section 245(2) of the Insolvency Act 1986 So if a bank has a loan of £100 outstanding to a company, and it advances a further £50 but takes an "all-monies" floating charge as security, and the company goes into liquidation 3 months later, the floating charge will validly secure the £50 advance which was made at the time, but not the earlier £100. Legislation relating to voidable floating charges is intended to prevent abuse of a security interest which catches literally all of the assets of the company, and could be used by person to strip out all of the assets from a company in difficulty from the unsecured creditors.
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