Essay Trader Joe's
SUBMISSION DATE; 12.02.2016
UNIT NAME; BANKRUPTCY AND REORGANIZATION.
UNIT CODE; BAC 306.
MEMBER REGISTRATION NUMBER PHONE NUMBER SIGNATURE
OLIVER MAINA MUCHIRI D33/1317/2013 0720986782
HINGA KELVIN GICHUHI D33/1506/2013 0706503330
CHEPKEMOI RUTH MAKOR D33/1455/2013 0724895863
CHERONO MERCY D33/1482/2013 0707550615
KIPNGETICH KOSGEI KEVIN …show more content…
3. If a composition or scheme is accepted by the creditors and approved by the court * The annulment of an adjudication order releases the debtor from the personal disabilities imposed upon him by the bankruptcy but does not prevent criminal proceedings from being brought against him for bankruptcy.
QUESTION 2; CAPITAL REORGANIZATION AND REASONS FOR REORGANISATION.
Capital reorganisation; is the act of changing the capital structure of a company by combining or dividing shares to create shares of different value.
Capital reorganization includes; * Reducing share capital to increase distributable reserves. This may be done by consolidating shares or by reducing the par value of shares. * Changing the structure of a group of companies, that is, introducing a new holding company. * Cancelling certain securities or securities of certain shareholders. * Changing the rights of particular classes of securities.
Many reorganization of capital require the permission of a court while others may only require approval within the company that is at annual general