Receivership – NBC Institute

BL – Nov 2021 – L1 – SB – Q2 – Company Law

Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.

Question

a. Torts have categories.

Required:
State FOUR categories of tort that affect economic interest. (4 Marks)

b. Chief Afeez is the chairman and majority shareholder of Afeez Nigeria Limited which has won a contract of N500 million that is much beyond the capacity of Afeez Nigeria Limited. Chief Afeez decides to raise the capital for the company by issuing shares and inviting friends to acquire shares in the company as well as issuing debentures.

Required:
Explain briefly FOUR of the following:

i. Company securities
ii. Debentures
iii. Share capital
iv. Preference shares
v. Shareholder (12 Marks)

c. You are a court-appointed receiver of a company with several persons, including debenture holders, having interests in its assets.

Required:
Explain the step you should take in determining how the proceeds of the receivership are to be distributed. (4 Marks)

Answer

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Tags: Company Securities, Economic Interests, Receivership, Torts
Level: Level 1

Topic: Company Law
Series: NOV 2021

BL – Nov 2021 – L1 – SA – Q6 – Company Law

Understanding the role of a court-appointed receiver.

Question

A Receiver of any undertaking of a company appointed by the court is an officer of the
A. Court
B. Shareholders
C. Company
D. Board of directors
E. Company’s secured creditors

Answer

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Tags: Company Law, Receivership
Level: Level 1

Topic: Company Law
Series: NOV 2021

BL – May 2021 – L1 – SB – Q2c – Company Law

Explanation of receivership as an alternative to company liquidation.

Question

Receivership is an alternative to company liquidation.

Required:
Explain receivership.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insolvency, Liquidation, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2021

BL – May 2021 – L1 – SA – Q5 – Company Law

Identifying a company's option during financial distress in Nigeria.

Question

Which of the following is an option for a company that is in financial distress in Nigeria?

A. Receivership
B. Subrogation
C. Novation
D. Upsizing
E. Redemption

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Recovery, Financial Distress, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2021

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

As an alternative to liquidation, where a company is in financial difficulty the secured creditors have a right to appoint a
A. Director to manage the assets
B. Banker to manage the assets
C. Chairman to manage the assets
D. Receiver/manager to manage the assets
E. Stockbroker to manage the assets

Answer

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Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

Question

Which of the following is NOT a duty of a receiver in a company?
A. Taking possession of company property
B. Managing company business
C. Discharging all outgoings
D. Protecting company properties
E. Realising securities for the benefit of shareholders

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Company Management, Corporate Law, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2019 – L1 – SB – Q4a Contract Law

Conditions under which a company may be placed in receivership.

Question

An insolvent company has several alternatives to liquidation.
Required:
State FOUR conditions under which a company may be placed in receivership. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Insolvency, Liquidation, Receivership
Level: Level 1

Topic: Contract Law
Series: NOV 2019

BL – May 2023 – L1 – SA – Q15 – Company Law

Identify the effect of a receivership order on company operations.

Question

Which of the following is an effect of a receivership order?

A. Powers of the company directors cease
B. The Company Secretary becomes the Receiver Manager
C. The shareholders take over the company’s assets
D. The official receiver locks up the company
E. The debtors are imprisoned

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business operations, Company Law, Legal Effects, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2023

BL – May 2016 – L1 – SB – Q5b – Company Law

Identify six circumstances under which a company can be placed under receivership.

Question

State SIX circumstances under which a company can be placed under Receivership.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Governance, Insolvency, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2016

PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties

Explain the VAT implications on the sale of assets by a receiver.

Question

A receiver of XX Bank intends to sell assets of the bank. The receiver wants your guidance on the VAT implications on the sale of the bank’s assets.

Required:
What is the VAT implication on the sale of the bank’s assets?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Asset sale, Receivership, VAT
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: MAY 2021

BL – Nov 2021 – L1 – SB – Q2 – Company Law

Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.

Question

a. Torts have categories.

Required:
State FOUR categories of tort that affect economic interest. (4 Marks)

Required:
Explain briefly FOUR of the following:

i. Company securities
ii. Debentures
iii. Share capital
iv. Preference shares
v. Shareholder (12 Marks)

c. You are a court-appointed receiver of a company with several persons, including debenture holders, having interests in its assets.

Required:
Explain the step you should take in determining how the proceeds of the receivership are to be distributed. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Securities, Economic Interests, Receivership, Torts
Level: Level 1

Topic: Company Law
Series: NOV 2021

BL – Nov 2021 – L1 – SA – Q6 – Company Law

Understanding the role of a court-appointed receiver.

Question

A Receiver of any undertaking of a company appointed by the court is an officer of the
A. Court
B. Shareholders
C. Company
D. Board of directors
E. Company’s secured creditors

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Receivership
Level: Level 1

Topic: Company Law
Series: NOV 2021

BL – May 2021 – L1 – SB – Q2c – Company Law

Explanation of receivership as an alternative to company liquidation.

Question

Receivership is an alternative to company liquidation.

Required:
Explain receivership.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insolvency, Liquidation, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2021

BL – May 2021 – L1 – SA – Q5 – Company Law

Identifying a company's option during financial distress in Nigeria.

Question

Which of the following is an option for a company that is in financial distress in Nigeria?

A. Receivership
B. Subrogation
C. Novation
D. Upsizing
E. Redemption

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Recovery, Financial Distress, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2021

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Law, Insolvency, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Company Management, Corporate Law, Receivership
Level: Level 1

Topic: Business Ethics and Corporate Governance
Series: NOV 2023

BL – Nov 2019 – L1 – SB – Q4a Contract Law

Conditions under which a company may be placed in receivership.

Question

An insolvent company has several alternatives to liquidation.
Required:
State FOUR conditions under which a company may be placed in receivership. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Insolvency, Liquidation, Receivership
Level: Level 1

Topic: Contract Law
Series: NOV 2019

BL – May 2023 – L1 – SA – Q15 – Company Law

Identify the effect of a receivership order on company operations.

Question

Which of the following is an effect of a receivership order?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business operations, Company Law, Legal Effects, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2023

BL – May 2016 – L1 – SB – Q5b – Company Law

Identify six circumstances under which a company can be placed under receivership.

Question

State SIX circumstances under which a company can be placed under Receivership.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Governance, Insolvency, Receivership
Level: Level 1

Topic: Company Law
Series: MAY 2016

PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties

Explain the VAT implications on the sale of assets by a receiver.

Question

A receiver of XX Bank intends to sell assets of the bank. The receiver wants your guidance on the VAT implications on the sale of the bank’s assets.

Required:
What is the VAT implication on the sale of the bank’s assets?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Asset sale, Receivership, VAT
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: MAY 2021

Question Tag: Receivership

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BL – Nov 2021 – L1 – SB – Q2 – Company Law

Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.

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BL – Nov 2021 – L1 – SA – Q6 – Company Law

Understanding the role of a court-appointed receiver.

You're reporting an error for "BL – Nov 2021 – L1 – SA – Q6 – Company Law"

BL – May 2021 – L1 – SB – Q2c – Company Law

Explanation of receivership as an alternative to company liquidation.

You're reporting an error for "BL – May 2021 – L1 – SB – Q2c – Company Law"

BL – May 2021 – L1 – SA – Q5 – Company Law

Identifying a company's option during financial distress in Nigeria.

You're reporting an error for "BL – May 2021 – L1 – SA – Q5 – Company Law"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance"

BL – Nov 2019 – L1 – SB – Q4a Contract Law

Conditions under which a company may be placed in receivership.

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BL – May 2023 – L1 – SA – Q15 – Company Law

Identify the effect of a receivership order on company operations.

You're reporting an error for "BL – May 2023 – L1 – SA – Q15 – Company Law"

BL – May 2016 – L1 – SB – Q5b – Company Law

Identify six circumstances under which a company can be placed under receivership.

You're reporting an error for "BL – May 2016 – L1 – SB – Q5b – Company Law"

PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties

Explain the VAT implications on the sale of assets by a receiver.

You're reporting an error for "PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties"

BL – Nov 2021 – L1 – SB – Q2 – Company Law

Identifying torts affecting economic interests and explaining company securities and the role of a court-appointed receiver.

You're reporting an error for "BL – Nov 2021 – L1 – SB – Q2 – Company Law"

BL – Nov 2021 – L1 – SA – Q6 – Company Law

Understanding the role of a court-appointed receiver.

You're reporting an error for "BL – Nov 2021 – L1 – SA – Q6 – Company Law"

BL – May 2021 – L1 – SB – Q2c – Company Law

Explanation of receivership as an alternative to company liquidation.

You're reporting an error for "BL – May 2021 – L1 – SB – Q2c – Company Law"

BL – May 2021 – L1 – SA – Q5 – Company Law

Identifying a company's option during financial distress in Nigeria.

You're reporting an error for "BL – May 2021 – L1 – SA – Q5 – Company Law"

BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance

This question asks who secured creditors have the right to appoint when a company is in financial difficulty.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q9 – Business Ethics and Corporate Governance"

BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance

This question asks about the duty of a receiver in a corporate setting.

You're reporting an error for "BL – Nov 2023 – L1 – SA – Q1 – Business Ethics and Corporate Governance"

BL – Nov 2019 – L1 – SB – Q4a Contract Law

Conditions under which a company may be placed in receivership.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q4a Contract Law"

BL – May 2023 – L1 – SA – Q15 – Company Law

Identify the effect of a receivership order on company operations.

You're reporting an error for "BL – May 2023 – L1 – SA – Q15 – Company Law"

BL – May 2016 – L1 – SB – Q5b – Company Law

Identify six circumstances under which a company can be placed under receivership.

You're reporting an error for "BL – May 2016 – L1 – SB – Q5b – Company Law"

PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties

Explain the VAT implications on the sale of assets by a receiver.

You're reporting an error for "PT – May 2021 – L2 – Q2c – Value-Added Tax (VAT), Customs, and Excise Duties"

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