A few points in the Baha Mar - Government Debacle'
1. Liquidation is not the same as chapter 11...Liquidation is like chapter 13 where one sells off the company's asset and close out the company to satify it's creditors and obligations.
2.The government has no right to appoint any liquidators... this is the JOB of the COURT..
(see the companies (wiinding- up amendtment) act 2011 clearly states; Part VII, Section 200, Pg 15 .)
So the appointment of PwC is premature and misguided.
BigBoozer says...
A few points in the Baha Mar - Government Debacle'
1. Liquidation is not the same as chapter 11...Liquidation is like chapter 13 where one sells off the company's asset and close out the company to satify it's creditors and obligations.
2.The government has no right to appoint any liquidators... this is the JOB of the COURT..
(see the companies (wiinding- up amendtment) act 2011 clearly states;
Part VII, Section 200, Pg 15 .)
So the appointment of PwC is premature and misguided.
On Govt says Baha Mar statement 'misleading'
Posted 3 August 2015, 1:47 p.m. Suggest removal