Food Stamps, And There Importance Within Society. Food

Food stamps, and there importance within society Food stamps or other words known as Supplemental Nutrition Assistance Program, or SNAP play a critical part in today’s society. More than 46 million American’s rely on food stamps to get through their everyday life. This program kept 4.9 million people out of poverty in 2012 not to mention the over 2 million kids. Food stamps are a voucher from the government for those on low income, exchangeable for food. Many families that have a large number of members, families that only have one single parent responsible for the entire income, or even the disabled which are unable to work rely heavily on this service just to keep food on the table. Furthermore, this is why this†¦show more content†¦To support the farmers, the Federal government bought farm commodities at a discounted price and distributed them among hunger relief agencies in states and local communities. The first Food stamp was issued in 1939 called the â€Å"Food Stamps Plan,† was implemented in 1 939 under the reign of Franklin D. Roosevelt as a variable of his New Deal program. Food assistance was made available to low-income individuals through the purchase of food stamps. Citizens in the program bought booklets of orange stamps to buy food and household items like starch, and soap but the stamps could not be used to buy alcohol, tobacco or foods eaten at stores. For every $1 in orange stamps, an additional $0.50 of blue stamps was given to people. Blue stamps could be used to buy foods in the grocery store including dry beans, flour, corn meal, eggs and fresh vegetables. Participants were required to buy the stamps so that money allocated for food purchases would not be spent on items that are not food. The program ended in 1943, as World War II and the economic boom significantly decreased the number of people living in poverty in the United States. Although in 1961 the Food Stamp program was re-introduced by President John F. Kennedy but tampered a little by eliminati ng the idea of stamps for surplus foods. Fast forward to 1977 and major changes to the food stamp act were made like restricted access toShow MoreRelatedPoverty And Its Effects On Poverty1554 Words   |  7 Pages Poverty is a remarkably persistent problematic social challenge within the United States that has far-reaching implications. The magnitude and perplexity of poverty and its instigates are a massive predicament of both ethical and economic concern that has many proportions, which demands the country’s immediate attention. Poverty is an idiom that is generally used to describe a condition or state in which a person or society lacks the monetary resources and necessities to enjoy a minimum basic qualityRead MoreThe Hunger Games By Suzanne Collins1081 Words   |  5 PagesIs society capable of living in a flawless world, in a true utopia? In Sir Thomas More’s novel, Utopia, a paradisiacal island is depicted containing a faultless society. Since the release of this work in 1516, countless authors have used this idea to create their own perfect worlds. The Hunger Games, by Suzanne Collins, is a prime byproduct of More’s utopia. However, the key difference between both novels is the intended creation of a utopia or dystopia. Collins understood that her text portrayedRead MoreBreaking Poverty: The Difficult Attempts to Receive a Proper Education by Students from Impoverished Families955 Words   |  4 PagesNot all cases of poverty are as severe as this example, when I think of poverty; I pic ture thin and dirty men and women wearing tattered clothing and single parents struggling to provide for their children by working multiple jobs for low wages. In society today, there are few people who deserve poverty and the troublesome life that goes along with it. When I drive around town, I often encounter men and women standing along the street holding signs, begging for help or money. Most of the signs readRead MoreCauses of Homelessness Essay1298 Words   |  6 Pagesconclusions and form stereotypes to look down upon those who are poor. Stereotypes include poor people who are viewed as lazy, jobless, criminals, or un-educated. When I think of a homeless individual, I would agree with most of the stereotypes and find within the reading and researching that there is more to just the mental perceived thoughts. I think one big cause of being in poverty or being homeless is by the choices people make. By choices I mean the way that people choose to spend their money. ARead MoreThe Effects of National Debt on the Economy2073 Words   |  9 Pagesstimulus that was extended to the US economy has impacted the US by providing more education and healthcare, unemployment benefits, bankrupting companies, putting more money into the economy, but in returned increased the national debt and affected society as a whole. The United Sates National debt dates back to 1789. It was on September 18 of this year that Alexander Hamilton, secretary of the treasury, asked the Bank of New York for a loan. The loan amount was for $19,608.81, which was the startRead MoreA Critical Review of Catalhoyuk: a Leopards Tale3659 Words   |  15 PagesThe site is renowned for a number of reasons. It was an unusually large settlement for its age, extending over 13.5 hectares, housing thousands of people at a time. Nevertheless, its most striking feature is the degree of symbolism imbedded within the society which can be seen in wall art, burials and material culture. James Mellart discovered the site in 1958 and led excavations from 1961- 1965. In 1993, excavations were resumed led by Ian Hodder. The book reviewed is Çatalhà ¶yà ¼k: The Leopard’sRead MoreEssay The Abuse of the Welfare System9684 Words   |  39 Pagesrequire for basic needs is in excess of their salary (Welfare (financial aid)). This program helped many families survive during The Great Depression and still helps families survive today. Welfare, which was once meant to help individuals reenter society, has been abused and manipulated. The abuse of the Welfare System has become a serious problem. Many dependent persons rely mainly on welfare for their sole source of income to support their family, rather then finding a job and supporting their familyRead MoreSchwartz-Nobel, Loretta. Growing Up Empty: The Hunger Epidemic in America.1718 Words   |  7 Pagessituations I began to get a totally different picture of just how deeply hidden and silent this epidemic of hunger is within our country. Today, there are more than 140,000 hunger organizations, which make it very difficult to imagine what the proportions of the hunger epidemic in America would have reached without them. But, even with the help of these organizations, cuts in welfare, food stamps and other government programs are creating a whole new generation of children growing up hungry. There was suchRead MoreToni Morrison s Beloved : Moral Ambiguity1108 Words   |  5 Pagesall return to lives of slavery. While slavery is today clearly classified as wrong by the vast majority of civilized society, as is infanticide, the event that takes place in this book is not as black and white. These instances of a grayer side of morality represent a sort of moral ambiguity that runs rampant throughout the entire novel. The example that is of paramount importance is when Sethe, the protagonist of the story, murders her child in order to save the child from a life of slavery. WhileRead More`` A Good Man Is Hard, And Ha Jin s, Under The Red Flag1115 Words   |  5 Pagesliterary community. Legendary writers such as Edgar Allen Poe, Flannery O’Connor, Ernest Hemingway, F. Scott Fitzgerald, and many more have paved the way for writers such as Ha Jin and Phil Klay who write today. Now, although one could speak on the importance of each of these tremendous writers, the focus in paper will be on two writings being that of Flannery O’Connor’s, â€Å"A Good Man Is Hard To Find† and Ha Jin’s, â€Å"Under The Red Flag†. Now, each book contains many short stories that encapture readers

Essay on Ambition in Macbeth - 734 Words

Ever since he heard the prophecies that promised him power, Macbeth’s mind has been descending into a disoriented state as times passed. In the duration of Acts 1 and 2, Macbeth, under the influence of Lady Macbeth and his own ambition, has changed from being a rational, level-headed man to one of questionable integrity. With Macbeth’s coronation, not only does his inner turmoil affect his mentality, but also his behaviour and senses. Scotland is immersed in more chaos by Macbeth’s hunger for supremacy, his acknowledgement of his crimes, and by further disturbance in the human order and divine order. As king, Macbeth’s desire for power becomes more evident. He begins to risk anything for his greed. Willing to cast aside†¦show more content†¦He reasons that â€Å"[he is] in blood stepped in so far†. He has already killed, and cannot stop, because â€Å"should [he] wade no more, returning were as tedious as go o’er† (III, iv, 12 0). There seems to be no hint of regret in his tone. On the contrary, Lady Macbeth appears to feel remorse for what she and Macbeth have done. She freely admits that â€Å"nought’s had, all’s spent, where [their] desire is got without content† (III, ii, 4-5). As a result of their focus on the prophecies, Macbeth’s mind has been â€Å"full of scorpions† (III, ii, 36). Even Macbeth’s appearance reflects his inner self. His wife tells him to â€Å"sleek o’er [his] rugged looks† (III, ii, 27). To him, the threat is Banquo and his son Fleance, when ironically, Macbeth is the real threat. In the last scene of Act III, Lennox confirms that â€Å"[their] suffering country† is â€Å"under a hand accursed†, referring to Macbeth (III, vi, 48-49). The hierarchy in Scotland is falling apart due to divisions in loyalty. Macduff does not support Macbeth, as proven when he relinquishes his title in Scotland to join Malcolm and br ing back an army to overthrow Macbeth. In Scene 1, Banquo vocalizes his fear that â€Å"[Macbeth] play’dst most foully† to acquire the title of King of Scotland (III, i, 3). The ties that once were strong between the noblemen have now been severed. Such dissension in the nobility of Scotland can only end with the country being disunited. The circumstances of the human order are paralleled in the divineShow MoreRelatedAmbition And Ambition In Macbeth1240 Words   |  5 Pagesintroduced to Macbeth in the play, King Duncan of Scotland is hearing how General Macbeth and General Banquo subdued Norwegian forces and arrested the Thane of Cawdor for treason. He seems to have a high moral standing and is a strong character, but Macbeth and Banquo meet three witches in the woods, they refer to him as Baron of Glamis, Baron of Cawdor, and then king. They also say that although Macbeth will be king, Banquos sons will become kings as well, even if Banquo will not. Macbeth was alre adyRead MoreAmbition And Ambition In Macbeth1996 Words   |  8 PagesAmbition can either be to one’s benefit or lead to one’s downfall. In William Shakespeare’s, Macbeth, ambition plays a great role on the characters lives as their actions and ambition shapes their future. Shakespeare showcases how one’s decisions because of their ambitions and overconfidence can lead to their own downfall while examining the actions of Lady Macbeth, King Duncan and Macbeth. To begin, the decisions Lady Macbeth makes to fulfil her ambitions for power leads to her own downfall. FirstlyRead MoreMacbeth Ambitions967 Words   |  4 PagesLuca What is ambition? In the dictionary ambition is defined has â€Å"an earnest desire for some type of achievement or distinction, (ex) power, honor, fame, or wealth. The willingness to strive for its attainment†. From this definition I do not even believe that Macbeth really had any ambition of his own. I do not think his ambition was not Macbeth’s greatest weakness but more is gullibility and being able to be swayed into the directions of others. In the story of Macbeth of Macbeths miss fortuneRead MoreAmbition in Macbeth1062 Words   |  5 PagesAmbition is often the driving force in one’s life. It can have an extremely dominant impact on not only yourself, but also many people in your surroundings. You have the ability to control if the outcomes either have a lasting negative or positive effect. When a goal requires determination and hard work to complete, personal morals often take a back seat to the aspiration of accomplishing the goal. In Shakespeareâ€⠄¢s Macbeth, it is clear that like many other great leaders, Macbeth exemplifies the necessaryRead MoreAmbition In Macbeth983 Words   |  4 Pages The Destructive Power of Ambition Ambition can be the one thing that drives people forward in life, motivating and inspiring them to be successful, but, ambition can also lead to one’s demise, infecting anyone and everyone involved. In the play Macbeth, written by William Shakespeare, Macbeth’s ambition is the main cause for the destruction of those around him. Macbeth’s thirst for power puts an end to many lives of many innocent individuals, as he is blind from all sense of rationality due toRead MoreMacbeth Ambition809 Words   |  4 PagesRepresentations of ambition within Macbeth Within Macbeth, there are numerous representations of human values and conflicts, including duty vs. desire, the effects of a guilty conscience on the human journey and the differences between genders, and the superiority of men within the play, and the modern era. The value foregrounded throughout this text is the representations of ambition within the play Macbeth, and we will be focusing on the protagonist of the story, ironically named Macbeth. The effectRead MoreTheme Of Ambition In Macbeth1552 Words   |  7 PagesIn the play, Macbeth, written by William Shakespeare, ambition is the key theme throughout the plot. It is the sole reason the events occur as they do. Many refer to Macbeth as the play of ambition due to this very reason. However, as we read through the play we begin to see effects of each character’s desires on themselves as well as those who surround them. We see some characters follow their ambition through violent ways while some achieve it through manipulation. Three characters in particularRead MoreUncontrolled Ambition in Macbeth901 Words   |  4 Pagesï » ¿Macbeth: Ambition Gone Wrong Introduction It’s good to have ambition, as it’s the foundation of a successful life. Ambition means to have strong desire towards achieving something. Because of this, it’s true that one without ambition will struggle, however sometimes, our own ambitions and desires can change us for the negative. Ambition in its nature can tempt obsessive behaviour, which has a destructive nature of its own. When an ambition purely of passion turns into obsession, it ultimatelyRead MoreThemes Of Ambition In Macbeth1038 Words   |  5 PagesShakespeares Macbeth, means that the blood of the victim will seek out the blood of the murderer; in this case, that is Macbeth. This play is full of many central themes that display the different sides of the characters. Although Macbeth proves to be very power hungry; greed, ambition, and also revenge fuel the individuals in this play, whether it be for the right or wrong reasons. Ambition, a strong desire to do or achieve something, is a theme that shows throughout all of Macbeth. The most ambitiousRead MorePower And Ambition In Macbeth746 Words   |  3 PagesThe bloodstained tragedy of Macbeth, written by William Shakespeare, captures the destructive physical and psychological effects ambition can cause on those seeking power for individual benefit. The play focuses on Macbeth, a heroic Scottish general, who encounters a trio of witches who prophesied that Macbeth will become the King of Scotland. Absorbed in ambition and motivation from his wife, Macbeth does the unthinkable for the Scottish throne – murders King Duncan. Marking the inception of Macbeth’s

Examinership, Receivership and Liquidation in Ireland Free Essays

string(108) " faith will not always result in a refusal to confirm an examiner’s proposals, as seem in Re Selukwe Ltd\." The collapse of the Irish economy has triggered a substantial increase in the number of companies in Ireland which are being deemed insolvent and which are no longer in a position to continue operating as viable entities. This has caused the companies directors, creditors and shareholders to seek remedies available under Irish law. The law in Ireland regarding companies in financial difficulties was originally set out by the Companies Act 1963, which was amended in 1990, and then again in 1999. We will write a custom essay sample on Examinership, Receivership and Liquidation in Ireland or any similar topic only for you Order Now All cooperate entities must adhere to the legislation set out under the Act and their individual memorandum of association and articles of association, which together constitute the constitution of a company. The principal remedies for dealing with insolvent companies are: 1. Examinership; 2. Receivership; 3. Liquidation. 1. The concept of examinership was introduced into Irish law by the Companies (Amendment) Act 1990. This legislation was enacted in order to provide companies which were in financial difficulties with the chance of recovering and thereby avoiding liquidation.An examinership is where the court places a company under its protection to enable a court appointed examiner to assess the affairs of a company and consider whether it is capable of survival, and if so, puts forward proposals that will facilitate that continuation of business. The motivation behind the creation of this legislation was the prevention of the collapse of the Goodman Group. The aim of this legislation was to avoid liquidation of companies with a chance of recovering from financial difficulties.Forde and Kennedy opine that the immediate objective and consequence of the protection created by this legislation is to provide the company or companies in question with extensive immunity against its creditors and against claims being made against it. McCormack in his article â€Å"Control and Corporate Rescue† bel ieves that this role was created as a response to changing political and business dynamics in the l990s. The receivership model was seen as being too creditor centred and as not being sufficiently responsive to the concerns of other stakeholders. The feeling at the time, McCormack opined, was that â€Å"banks had pushed companies unnecessarily into insolvency by being unduly precipitate in the appointment of receivers. † The original legislation has been criticised in numerous respects, and so has been amended significantly by the CA 1999. Finlay CJ in the Supreme Court in Re Holidair Ltd, acknowledged the shortcomings of the legislation and held that it is appropriate to approach the construction of any sections in CA 1990 on the basis that the two objectives of the legislature were to provide a period of protection for a company and that a company should be continued as a going concern.The legislation was being used as a last attempt to save companies which were incapable of salvation. As John O’Donnell put it in his article ‘Nursing the Corporate Patient – Examinership and Certification under the Companies Act, 1990’, â€Å"for many, it has been a painful experience to learn that the Act is designed to help cure the sick but cannot raise the dead. † Keane notes that the granting of the examiner is discretionary. A court may appoint an examiner where it appears that: a) A company is or is likely to be unable to pay its debts; (b) No resolution subsists for the winding-up of the company; (c) No order has been made for the winding-up of the company. Because of the effects of an examiner on a company, one should not be appointed without a real prospect of survival. Lardner J in Re Atlantic Magnetics Ltd advocated a strict test for â€Å"reasonable prospect of survival†. He was overruled by the Supreme Court, in favour of a requirement of â€Å"some prospect of survival†.Prior to the revision of CA 1990, the leading authority on the test for the appointment of an examiner was that SC decision in Re Atlantic Magnetics Ltd. The statutory revision of Section 2. 2 has effectively reversed that decision. The foregoing views are supported by the decision of the High Court in Re Tuskar Resources plc, which was the first written decision on the appointment of an examiner since the changes effected by CA 1999 were commenced. McCracken J began by analysing the changes effected to the test for the appointment.He said the new test was more in keeping with the decision of Lardner J in the High Court than with the decision in the Supreme Court – â€Å"In re Atlantic Magnetic†¦Finlay CJ also stated that there cannot be an onus of proof on a petitioner to establish as matter of probability that the company is capable of surviving as a going concern. It seems to me that this is no longer the position under the Act of 1999 by reason of the wording of the new sub-s 2(2). † He refused to appoint an examiner as the petitioner had failed to discharge the onus of proof that there was a reasonable prospect of the survival of the company.Although all petitions to have an Examiner appointed must be presented to the High Court, the HC may remit the matter to the Circuit Court under CA1990 Section 3. 9 where it appears that the total liabilities of the company, do not exceed â‚ ¬317,434. For the peti tion to be approved, the CA 1990 required a petition to have evidence of possibility of salvation but no detailed analysis of the company’s situation was required. This is another criticism of that Act. The petition to have an examiner appointed and the grounding affidavit must be made uberrimae fides, that is, in the utmost of good faith.What was first decided by Costello J in Re Wogans (Drogheda) Ltd has now been given statutory force by Section 4a CA 1990. Where it is discovered that the court has been misled, the entire application will be tainted. If this is discovered early in the proceedings, the examiner will be discharged where the lack of good faith is sufficiently serious. However, a lack of candour and good faith will not always result in a refusal to confirm an examiner’s proposals, as seem in Re Selukwe Ltd. You read "Examinership, Receivership and Liquidation in Ireland" in category "Papers" There are no particular qualification requirements for an examiner. They can’t have been an officer of the company within the last 12 months.McCracken J held in Re Tuskar Resources plc that there was no bar on the person who provides the independent person’s report from acting as examiner. The person appointed is entitled to court-fixed remuneration and to costs. He can employ staff to assist or may use company staff. Section 10 CA 1990 provides that any liabilities incurred during the protection period are deemed to be legit examiner expenses. These liabilities would include new borrowing. Forde and Kennedy explain that the reason why the examiner may certify liabilities is that there may otherwise be a danger that the company’s survival as a going oncern may be prejudiced. Section 29 CA 1990 gave these liabilities and expenses priority over creditors where a scheme of arrangement was drawn up or a winding up ensued. This provision was one of the most criticised. It was deemed to subvert the whole lending process, as secured creditors lost priority. This had the potential to severely prejudice these creditors should examinership fail. Prior to the enactment of the 1999 Act, the duty of the examiner was to conduct an examination of the affairs of the company and report the results to the court within a specified period and to later present proposals and schemes of arrangement.Since the 1999 Act, that report is effectively replaced by the report of the independent accountant which must now accompany the petition. Accordingly, the duty of the examiner now is: (a) To formulate proposals for a compromise or scheme of arrangement; (b) To carry out such other duties as the court may direct him to carry out. The examiner must report to the court within 35 days informing then of any schemes formulated. If the court is then not satisfied, it can order the company be wound up as per Section 22 CA 1999. The examiner must meet with creditors and members to devise schemes of arrangement.The members and creditors are classed for the purpose of voting on schemes and these schemes are deemed to be accepted if the majority vote in favour from each class. Various classes can vote on the proposals, including the Revenue, etc. When these proposals go to the court, any creditor or member whose interests are impaired may be heard. If a party who was completely unaware of the proposed scheme can show that the examiner knew of his existence but failed to take reasonable steps to appraise him of the situation, he may possibly have a right of action against the examiner for damages. The court will not approve the proposals unless at least one class of creditors impaired by the proposals vote in their favour. As to the actual content of the proposals, the only requirement regarding the proposals’ intrinsic merits are that of equality within classes. Proposals must be fair and equitable and not unfairly prejudicial. The court may propose modifications to schemes and these must be voted on if significant. 2. Receivership arises in the context of secured debenture holders and provides a framework in which they may act so as to enforce their security interest.Forde and Kennedy observe that at times receivership is used not simply as a means of reimbursing creditors but more as a device for reorganising insolvent companies, so as to salvage their viable parts for the benefit of those involved. Courtney notes that the term derives from the Latin recipiere â€Å"to take†. The receiver will go to the company and take control of those assets subject to the charge. They can then dispose of those assets and pay off the principal and interest due to the debenture holder.Receiverships involve two distinct relationships as per Barr J in Bula Ltd v Crowley – â€Å"First, that between the appointing mortgagee and the receiver which relates to the fundamental objective of the receivership†¦The second relationship is that between the receiver and third parties arising out of the receivership†¦Ã¢â‚¬  The receiver is usually appointed by virtue of the debenture. The validity of the appointment of a receiver is dependent upon compliance with the terms contained in the debenture and the capacity of the company and authority of its officers to create the deb ab initio, that is, from the beginning.Courtney states that a creditor owes no special duty to a company in deciding whether or not to appoint a receiver. The fundamental issue for the debenture holder is whether or not the appointment will further their interests. However, where the appointment will not advance these interests, the appointment may be said to have been made in bad faith. The only qualifications that the law requires of receivers are negative, i. e. certain persons are barred from becoming receivers, such as undischarged bankrupts and persons connected to or related to persons within the company, as per Section 170 CA 1990.In Wise Finance Co Ltd the court held that a company’s secretary was ineligible to act as that company’s receiver. A receiver appointed by debenture can resign with notice. The court also possesses an inherent power to appoint a receiver on application by a debenture holder. This occurs in instances where the debenture doesn’t provide for an appointment in a particular situation which has arisen. A receiver appointed by the court has the status of an officer of the court and can only resign with the authority of the court.Ellis noted that receivers, irrespective of the method of their appointment, are regarded as being in a ‘fiduciary’ relationship with those who appointed them. A receiver is normally deemed to be the agent of the company by virtue of his appointment; however, the receiver’s primary duty is to the debenture holder. The receiver owes a fiduciary duty to the debenture holder and must conduct his receivership in good faith. The receiver is liable to the debenture holder in damages if he is negligent.The receiver is liable to the company where he is negligent in the sale of any of the company’s assets. Section 172 CA 1990 states that â€Å"a receiver, in selling property of a company, shall exercise all reasonable care to obtain the best price reasonably obtainable for the property at the time of the sale†. This gave statutory effect to the law in Ireland that a receiver should be required to ensure that he got the best price for an asset, even if a much smaller sum would realise his security, as accepted in Ireland in Lambert v Donnelly and McGowan v Gannon.It was observed by McCracken J in Ruby Property Company Ltd that this is simply a statutory acknowledgement of the position at common law. A receiver can’t be appointed after appointment of an examiner. If appointed in the 3 days prior to examiner appointment, he may be ordered to cease acting. 3. Liquidation terminates a company’s existence and distributes its assets in a preordained way. Carrie Jane Canniffe â€Å"Restraining a Creditor’s Winding up Petition – The position since Truck and Machinery Sales Ltd v Marubeni Komatsu Ltd. , proffers the winding up process can be said to mark the formalised beginning of a company’s end. There are two main forms of winding up; (a) By court order; (b) Voluntary. A voluntary winding up can be either a members’ winding up or a creditors winding up. Ussher observes that the only grounds upon which a company may be wound up by the court are stated in Section 213 of the Companies Act 1963. Two different types of grounds exist for the winding up of a company by the courts, procedural and substantive.Three different procedural grounds exist: (a) The company has resolved by special resolution to wind up the company. It was held in the case of Re Galway and Salthill Tramway Co. , that the board of directors may not cause it to do so without the benefit of an authorising or ratifying resolution in general meeting, or specific authority in the articles. (b) The company does not commence its business within a year from its incorporation or suspends its business for a whole year. Courtney notes this ground is rarely relied upon since only contributories, the Co itself and creditors may rely on it. c) The number of members is reduced, in the case of a private company, below two, or, in the case of any other company below seven. The most important grounds however, are those of the substantive grounds. Where; (a) The Company is unable to pay its debts. The CA 1990 provides that a company shall be deemed to be unable to pay its debts in certain circumstances: (a. 1) A creditor has not been paid a debt of â‚ ¬1000 or more within three weeks after demanding it in writing; (a. 2) A judgment is unsatisfied; or (a. 3) It is proved to the satisfaction of the court that the company is unable to pay its debts.Keane comments that in deciding whether it has been proved that the company is unable to pay its debts, the court will generally act on evidence that a creditor has repeatedly applied for a payment without success. If, however, the company can show that there is a bona fide dispute as to the particular debt claimed, the order will not be made. Alison Keirse ‘Winding up petitions – Practical application of the Stonegate test’ observed that the decision in Re Pageboy Couriers Ltd adopted the decision of Stonegate Securities Limited v Gregory establishing this method of defeating a creditor’s petition to win d up a company. However, as Courtney notes it is one thing to successfully dispute the bona fides of a debt at the hearing of a petition; even where successful, the company is exposed to a glare of adverse publicity wherein its solvency is questioned. The first Irish case to consider an application for injunction relief against the advertisement of a petition was Clandown Ltd v Davis. Morris J held that the precise amount of the debt had to be declared before the court could order a winding up. Thus Morris J granted the injunction to restrain the publication of the petition.One result of this decision is to reinforce the principle that the courts will not permit themselves to be used as a method of debt collection. Howard Linnane ‘Oppression of Members: Section 205 Companies Act, 1963’ proffers that under the CA 1963 the court has jurisdiction to order the winding up of a company where it is ‘just and equitable’ to do so. Ussher proffers that in many cases such grounds are invoked where there is a complete deadlock between the shareholders and the company’s activities to the detriment both of the member and the creditors. The leading case is Re Yenidje Tobacco Co, the principle of which was applied in Re Irish Tourist Promotions. Kenny J wound up a company in which the two directors could not meet without the risk of unruly scenes, and the business of the company could not be conducted. In conclusion, while a company’s inability to pay its debts is the most common reason for the winding up of a company, it is not determinative. A court will only wind up a company where it is just an equitable to do so.Ultimately the appropriate remedy to be employed will be dependent upon the extent of difficulty the company finds itself. â€Å"There is of course some comfort for both companies and creditors alike that the Irish statutory framework at least contemplates solutions which draw back from the finality of ultimate dissolution of a company and facilitates interested parties a way forward through these recessionary times perhaps even to the benefit of all parties concerned. â€Å" How to cite Examinership, Receivership and Liquidation in Ireland, Papers

Leadership in Business for Management Company-myassignmenthelp

Question: Discuss about theLeadership in Business for Management Company. Answer: Leadership Style I am working as an assistant manager in one of the startup management company. I have three teams which are working under me. There is one team leader and one assistant team leader for each of the teams. Each team has 12-15 employees and they are very hard working and contribute for the development of the company. As startup companies are facing steep competition, it is very difficult for me as an assistant manager to manage and handle all the employees and work further for the development and profitability of the company. I need to motivate the employees so that they can work better and feel inspired to contribute more to the company. The team leaders of the company also co-operate with me as well as the employees to solve the problems of the employees as well as the management and work for further development. Suddenly there was a clash between the two teams (Tyssen, Wald Spieth, 2014). The targets of the teams were not fulfilled and the employees had to face too much pressure. Th e staffs and the employees faced difficulty in selling the product and the customers were not willing to purchase them because the product was out-dated. The other companies which sold similar product used updated technology and tools. The employees were inspired to contribute their ideas for the development of the product in a low cost and less time frame. As the company did not have sufficient amount of money to modify its product, the employees had to convince the customers in such a way that the customers are willing to buy the product. The employees of team two found out cheap ways to modify the product and they approached me to assist them with their ideas. I happily agreed to help them and thus under my leadership the employees performed well. The sales and profitability of the company also increased. The management was happy with the performance of the employees and thus the problem was solved. The company was also able to compete steeply with the other competitors and thus the employees were also rewarded for their contribution (Tyssen, Wald Heidenreich, 2014). I have applied transformational leadership style. Transformational leadership is associated with bringing changes in the organization, oneself, groups and others. When the sales and profitability of the company was drastically falling and the company cannot face steep competition, I have consulted the team leaders of the company to find out innovative ways which will help the company to improve. The team leaders consulted with the team members and also analyze the needs and demands of the customers so that they find out alternative ways to bring changes for the development of the company. I, as an assistant manager of the company had to motivate others to perform better than they originally intended (Clarke, 2013). I had set some challenging expectations from the employees to achieve higher performance. Transformational leadership also requires committed and satisfied followers. The employees of my company gave different ideas for the development and they needed my guidance to perfor m better. I provided them full support and thus they performed better and improved the sales as well as the profitability of the company. Moreover, as a transformational leader, I also need to understand the emotions of the employees and inspire them to reach the improbable. I also had to support them and provide them the necessary recognition as and when required. The employees were so innovative and active that as soon as they realized that the sales and profitability of the company decreased, they took further initiative for the development and betterment of the company. In transformational leadership, the leaders and the followers inspire and raise one another to higher levels of innovation and morality. The same was also followed in my case. Moreover, I also guided the employees with a sense of challenge and meaning. I had to work optimistically and enthusiastically for fostering commitment and team work among the employees (Breevaart et al., 2014). I have encouraged them to be innovative and creative. The employees were encouraged for their new ideas and they were never criticized publicly for their mistakes. As a leader, I had to focus on the problems and not only on blaming them. I had to find out relevant ways to solve it. Moreover, I also need to check that there was no hesitation in discarding the old problems. I had to act as a role model so that the employees can emulate. The employees also had to sacrifice their personal gains for the development of the company. As the leaders are regarded as mentors to their followers and they ate rewarded for their creativity and innovation. The employees are also treated differently for their knowledge and innovation. The employees are always allowed to take their decisions and thus they are provided with the needed support to implement their decisions accordingly. I also had to monitor the works of the employees and watch whether they deviate from the standards and norms of the comp any. The team leaders of the company must also take corrective actions to prevent the employees from doing mistakes (Wahyuni, Christiananta Eliyana, 2014). As a transformational leader, it is my duty to intervene when only when the standards or norms of the company are not fulfilled. As the sales of the company were drastically falling, the employees were encouraged to contribute their creative ideas so that the company can develop within a small budget. Some ideas which were taken by the team leaders did not help because the company was Startup Company and it did not have sufficient fund for adopting or bringing any changes in the products immediately. It was not possible for the company to change the product completely. Sometimes, in such cases as it was not possible to change the product completely or bring any new improvement or changes in the existing product, the company must expand its business in other lines as per the demands of the customers (Odumerun Ogbonna, 2013). Leadership Style When I was the employee of the company, I had to follow the rules and regulations which were framed by the management as well as the team leaders. There was heavy pressure as the employees had specific targets to sell the products. I was awarded with certain awards as I had performed very well within the first six months of my joining. I also had contributed several awards for the betterment and development of the company. When I was promoted as the team leader, I had to manage the entire team of 20 members and solve their problems. There was pressure as the sales and profitability of the company was declining and I had to assist the team members. I was awarded as the best team leader among the three teams. When I was promoted as the assistant manager of the company, I had to handle the three teams as well as look after the management of the company. I was given the responsibility to check the performance of the employees on a weekly basis. As the sales and profitability of the compa ny was drastically falling, I was put under pressure to motivate the employees so that they can influence the customers to purchase their products (Dumdum, Lowe Avolio, 2013). I was involved with the company from the initial stage. As the company grew and expanded there were several challenges which had to be faced by the company as well as the team leaders for further improvement. I was dedicated in my job role. When I was the employee of the company, I performed my duties very carefully. I also contributed several ideas for the development of the company and was awarded at different times. I took careful note of the sales and the profitability of the company and found out innovative ways for further development of the company. As the company was a startup company, it did not have sufficient fund to renovate its products and services. I had to find out easier and cheaper means so that the company can develop within a short span of time (Epitropaki Martin, 2013). As I was promoted as the assistant manager of the company, it was easier for me to assist the employees and monitor them on a timely basis. I can carefully observe the employees and ask them to deliver their ideas so that they can work for the development of the company. I must only keep a careful watch of the employees and ask them to work for the development of the company. I do not need to contribute or assist the employees but keep a track of the employees performance. As a transformational leader, it is also necessary to link the goals with the rewards and thus clarify the expectations. It is also necessary to monitor the work of the subordinate employees. It is also necessary to provide such an environment where the employees get many opportunities to take their own individual decisions. As a leader, it is my duty to check all the responsibilities and avoid making important decisions. The transactional leaders are often found to be effective in guiding the efficiency decision a nd thus this helps in reducing cost and improving productivity (Hamstra et al.,2014). If I found myself in the similar situation, I would not take more responsibility than this. I will put pressure on the employees to perform their duty and thus contribute for the development of the company. As a transactional leader, it is also important to take visionary position and also inspire other people to follow them. I would play the role of transformational leadership in different situation. In certain cases, I can also be a transactional leader and respond to different situation in a responsible manner. It is also necessary to maintain the organizational culture while working in the organization. As a transformational leader, it is necessary to motivate the employees so that they can achieve the target of the company. The employees must also be encouraged to transcend their own interest for the group. Though the transactional style of leadership is viewed insufficient but in certain cases this leadership is followed and preferred by all the leaders. This type of leadership also helps in creating interaction among the employees and thus it will benefit the company as well as the leader (McCleskey,2014). References Breevaart, K., Bakker, A., Hetland, J., Demerouti, E., Olsen, O. K., Espevik, R. (2014). Daily transactional and transformational leadership and daily employee engagement.Journal of occupational and organizational psychology,87(1), 138-157. Clarke, S. (2013). Safety leadership: A meta?analytic review of transformational and transactional leadership styles as antecedents of safety behaviours.Journal of Occupational and Organizational Psychology,86(1), 22-49. Dumdum, U. R., Lowe, K. B., Avolio, B. J. (2013). A meta-analysis of transformational and transactional leadership correlates of effectiveness and satisfaction: An update and extension. InTransformational and Charismatic Leadership: The Road Ahead 10th Anniversary Edition(pp. 39-70). Emerald Group Publishing Limited. Epitropaki, O., Martin, R. (2013). Transformationaltransactional leadership and upward influence: The role of relative leadermember exchanges (RLMX) and perceived organizational support (POS).The Leadership Quarterly,24(2), 299-315. Hamstra, M. R., Van Yperen, N. W., Wisse, B., Sassenberg, K. (2014). On the perceived effectiveness of transformationaltransactional leadership: The role of encouraged strategies and followers' regulatory focus.European Journal of Social Psychology,44(6), 643-656. McCleskey, J. A. (2014). Situational, transformational, and transactional leadership and leadership development.Journal of Business Studies Quarterly,5(4), 117. Odumeru, J. A., Ogbonna, I. G. (2013). Transformational vs. transactional leadership theories: Evidence in literature.International Review of Management and Business Research,2(2), 355. Tyssen, A. K., Wald, A., Heidenreich, S. (2014). Leadership in the context of temporary organizations: A study on the effects of transactional and transformational leadership on followers commitment in projects.Journal of Leadership Organizational Studies,21(4), 376-393. Tyssen, A. K., Wald, A., Spieth, P. (2014). The challenge of transactional and transformational leadership in projects.International Journal of Project Management,32(3), 365-375. Wahyuni, D. U., Christiananta, B., Eliyana, A. (2014). Influence of Organizational Commitment, Transactional Leadership, and Servant Leadership to the Work Motivation, Work Satisfaction and Work Performance of Teachers at Private Senior High Schools in Surabaya.Educational Research International,3(2), 82-96.