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There leave was refused on the ground that the applicants had accepted benefits under the administration, and had only sought to enforce their security at a later stage: To access this section, please start your free trial or log in.
As already noted, the purpose of the prohibition is to enable or assist the company to achieve the object for which the administration order was made.
Atlantic Marine Atlantic case Co.
The underlying principle here is that an administration for the benefit of unsecured creditors should not be conducted at the expense of those who have proprietary rights which they are seeking to exercise, save to the extent that this may be unavoidable and even then this will usually be acceptable only to a strictly limited extent.
The subcontract included a forum-selection clause designating either the circuit court in Norfolk, Virginia or the federal district court in Norfolk, Virginia as the forum for any disputes under the contract.
For example, the permanent loss to a lessor flowing from his inability to recover his property will normally be small if the administrator is required to pay the current rent. If he is, delay in enforcement is likely to be less prejudicial than in cases where his security is insufficient.
For this purpose loss comprises any kind of financial loss, direct or indirect, including loss by reason of delay, and may extend to loss which is not financial.
Vast areas of seafloor formerly inaccessible to fishing are now being trawled.
Congress enacted the Sustainable Fisheries Act in requiring fishery managers to take steps to rebuild over-fished stocks. Cases where leave is refused but terms are imposed can be expected to arise frequently. If granting leave to a lessor of land or the hirer of goods a "lessor" to exercise his proprietary rights and repossess his land or goods is unlikely to impede the achievement of that purpose, leave should normally be given.
Atlantic then sought review from the Supreme Court of the United States. Facts[ edit ] Atlantic Computer Systems plc, recently taken over by British and Commonwealth Holdingshad hired a set of computers. Quimbee is one of the most widely used and trusted sites for law students, serving more than 97, law students since Though species like cod can generally repopulate quickly, seafloor damaged by destructive fishing practices can reduce their resiliency.
The company lending the computers attempted to repossess them. In most cases this should be possible, since if the administration order has been rightly made the business should generally be sufficiently viable to hold down current outgoings.
Quimbee is a company hell-bent on one thing: Access in your classes, works on your mobile and tablet. The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
Atlantic moved to dismiss under 28 U. Read more about Quimbee. It is not for the court on the Atlantic case application to seek to adjudicate upon that issue, unless as in the present case, on the fixed or floating charge point the issue raises a short point of law which it is convenient to determine without further ado.
Or it may do so indirectly, by ordering that the applicant shall have leave unless the administrator is prepared to take this or that step in the conduct of the administration.
Thank you for your support! At present we say only that it appears to us the nearest we can get to a formulation of what Parliament had in mind.
The holding and reasoning section includes: Because of the difficulties of mandating and enforcing sustainable fishing practices, a growing number of marine scientists are proponents of establishing marine reserves that are off-limits to fishing of any kind.
It went into insolvency.Atlantic Corp.
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Facts. Atlantic Computer Systems plc, recently taken over by British and.Download