Alp liquidating trust
An amendment to the Joint Enterprise Act, which was enacted on June 17, 2013, has taken effect as from December 20, 2013.
Under the amendment, if a special purpose company ("SPC") meets certain conditions as a business operator, it may readily conduct business by giving notification to the Ministry of Land, Infrastructure, Transport, and Tourism ("MLITT").
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On April 22, 2004, Governor Fletcher signed into law Kentucky’s newly revised Principal and Income Act (“Revised Act”), which supports the now widespread use of revocable trusts as Will substitutes as well as modern theories of portfolio management.
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Consequently, the Appellants' motion pertains to the plan's implementation or execution and therefore satisfies the Craig's Stores test for post-confirmation jurisdiction. § 1142(b), which authorizes post-confirmation bankruptcy orders “necessary for the consummation of the plan.” Thus, proceedings within the contemplation of § 1142(b) are more appropriately viewed as “arising in” a case under title 11. We note, as a preliminary matter, that section 8.20(b) does not require bankruptcy-court approval of a settlement liquidating the Shell/CNA claims. If there is insufficient dividend, interest and other trust income to satisfy the unitrust amount, the trustee simply pays a portion of the trust principal to the income beneficiary.The advantage of adopting a “total return” investment strategy is that the trustee can invest in growth securities (which will eventually be paid to the remainder beneficiary) without having to be concerned with the rate of income produced by those investments.One of the most important requirements to utilize the new scheme under the amendment is that the investors must be "Special Investors" (explained in detail below).According to the recently published regulations, all foreign corporations fall under the category of "Special Investor," and thus overseas investors are likely interested in knowing how they may utilize the new scheme under the amendment.