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HiQ International AB (STO:HIQ), a provider of digital technology and communication solutions, announced on Wednesday the resolution by its board of directors to issue new shares against set-off for payment of additional payment in relation to an earlier completed acquisition.
In the 2009 decision Caisse populaire Desjardins de l'Est de Drummond v Canada, (2) Rothstein J, on behalf of a majority of the Supreme Court of Canada (SCC), acknowledged, by extension, (3) that a transaction incorporating or prominently featuring a right of set-off may create a security interest under the Personal Property Security Act (4) ("PPSA").
A loss was incurred by the firm, but the tax authorities have not permitted set-off and carry forward of the loss on the ground that these are speculative transactions.
Also, a prospectus required for carrying out the final registration of the recent set-off issue has been filed with and approved by the Swedish Financial Supervisory Authority (SFSA).
qa * LEGAL SYSTEM IN QATAR A set-off takes place, whatever may be the sources of the debts, except in cases where one of the two obligations consists of a thing of which the owner has been unjustly deprived, and is the object of a claim for restitution; where one of the two debts consists of a thing that has been deposited or lent for use or is the object of a claim for restitution; where one of the two debts is a right which is not liable to attachment; and where one of the two debts is payable in respect of alimony.
While earlier the state government used to offer set-off for the entire vehicles sold by a company, the new rule (changed last year) gives the set-off only for vehicles sold within the state.
According to sources in the auto industry, the government offered these mega projects the opportunity to claim double VAT set-off benefits.
The interplay between apportionment of fault and the set-off analysis in multiple tortfeasor litigation has grown complicated and increasingly important in predicting a defendant's share of the verdict (or potential verdict in evaluating cases).
This decision will help define the ability of banks to exercise their rights of set-off against the accounts of a customer who is in bankruptcy.
The work incentives change the way income is counted so as to stop a dollar-for-dollar set-off for income obtained from working.
company paying the dividend obtains a set-off of the relevant ACT.
It is important to note, though, that courts will respect the landlord's right of set-off with respect to security deposits or prepaid rent which were at one time commingled, but are later segregated by the landlord if (a) such segregation occurs Prior to an assignment for the benefit of creditors or the commencement of a bankruptcy proceeding and (b) the landlord's commingling was inadvertent as opposed to a deliberate disregard of the law.