Liquidator accounts: detailed itemised realisations and disbursements with separate trading and annexed disclosure requirements. The liquidator must file a detailed statement of account under section 551 showing itemised realisations and disbursements, with gross proceeds of asset sales recorded as realisations and incidental costs as disbursements; bank movements and temporary investments are reported separately though interest and profit or loss on realised investments are reflected in the accounts. A separate Trading Account is required if the liquidator carries on business, and dividends, compositions and returns to contributories must be entered as single totals in disbursements with annexed schedules listing individual creditor and contributory entitlements, payments and unclaimed amounts. An Analysis of Balance reconciles cash, bank and invested amounts, and prescribed annexures disclose assets, liabilities, capital calls, legal proceedings and unclaimed dividends paid into the Companies Liquidation Account.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liquidator accounts: detailed itemised realisations and disbursements with separate trading and annexed disclosure requirements.
The liquidator must file a detailed statement of account under section 551 showing itemised realisations and disbursements, with gross proceeds of asset sales recorded as realisations and incidental costs as disbursements; bank movements and temporary investments are reported separately though interest and profit or loss on realised investments are reflected in the accounts. A separate Trading Account is required if the liquidator carries on business, and dividends, compositions and returns to contributories must be entered as single totals in disbursements with annexed schedules listing individual creditor and contributory entitlements, payments and unclaimed amounts. An Analysis of Balance reconciles cash, bank and invested amounts, and prescribed annexures disclose assets, liabilities, capital calls, legal proceedings and unclaimed dividends paid into the Companies Liquidation Account.
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