Asset memorandum requirements govern how liquidators record valuation, sale method, and realisation details in liquidation. Asset memorandum requirements govern the liquidator's preparation and disclosure of the memorandum used for realisation of assets in liquidation. The liquidator must prepare the memorandum within the prescribed time from the liquidation commencement date, using the information memorandum with suitable modifications where applicable. The memorandum must specify asset value, intended manner and mode of sale or realisation, reasons for those choices, expected realisation, and other relevant information. It must also be filed with the progress report and shared only after confidentiality undertakings are obtained.
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.
Asset memorandum requirements govern how liquidators record valuation, sale method, and realisation details in liquidation.
Asset memorandum requirements govern the liquidator's preparation and disclosure of the memorandum used for realisation of assets in liquidation. The liquidator must prepare the memorandum within the prescribed time from the liquidation commencement date, using the information memorandum with suitable modifications where applicable. The memorandum must specify asset value, intended manner and mode of sale or realisation, reasons for those choices, expected realisation, and other relevant information. It must also be filed with the progress report and shared only after confidentiality undertakings are obtained.
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