篩選結(jié)果 共找出34題

Explain the priority of the charges issued to Margaret and Chris.

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Flop Ltd was in financial difficulties. In January, in order to raise capital, it issued 10,000 ￡1 shares to Gus,?but only asked him to pay 75p per share at the time of issue. The directors of Flop Ltd intended asking Gus?for the other 25p per share at a later date. However, in June it realised that it needed even more than the?￡2,500 it could raise from Gus' existing shareholding. So in order to persuade Gus to provide the needed?money Flop Ltd told him that if he bought a further 10,000 shares he would only have to pay a total of 50p?for each ￡1 share, and it would write off the money owed on the original share purchase.?

Gus agreed to this, but the injection of cash did not save Flop Ltd and in December it went into insolvent?liquidation, owing a considerable amount of money.?

22

【論述題】

?Explain the general rule concerning the issuing of shares at a discount to their nominal value?

Explain the extent of Gus's liability on the 10,000 ￡1 shares that he paid 75p each for

?Explain the extent of Gus's liability on the further 10,000 ￡1 shares that he paid 50p each for?

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Milly Ltd has recently entered into the following arrangements with its creditors.?(1) A single debenture of ￡15,000 from B Bank that is secured by a charge over Milly Ltd's trade?receivables. Milly Ltd may deal with the trade receivables as it wishes. The charge documentation?describes the charge as a fixed charge.?(2) A single debenture of ￡20,000 from Peppa Ltd secured on Milly Ltd's inventory. A floating charge?was created on 3 March 20X1 and registered on 31 March 20X1.?(3) A single debenture of ￡5,000 from Otto Ltd that is also secured on Milly Ltd's inventory. A floating?charge was created on 10 April 20X1 and registered on 30 April 20X1.?

25

【論述題】

?State whether Milly Ltd is required to keep a register of debenture holders in respect of?the three debentures?

?Identify the type of charge that was created over Milly Ltd's trade receivables?

State which of the floating charges will take priority if Milly Ltd is liquidated?

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?Dee and Eff are major shareholders in, and the directors of, Fan Ltd. For the year ended 30 April 20X8 Fan?Ltd's financial statements showed a loss of ￡2,000 for the year and no profits were carried forward. For the?year ended 30 April 20X9 Fan Ltd made a profit of ￡3,000. Also, due to a revaluation, the value of its land?and buildings increased by ￡5,000. As a consequence, Dee and Eff recommended, and the shareholders?approved, the payment of ￡4,000 in dividends.?

28

【論述題】

?Explain the legality of the dividend payment?

?State the extent of Dee and Eff's liability regarding the dividend payment?

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?Two years ago Fin inherited some money and decided to invest the money in company shares.?

At that time he heard that Heave Ltd was badly in need of additional capital and that the directors had?decided that the only way to raise the needed money was to offer fully paid up ￡1 shares to new members at?a discount price of 50p per share. Fin thought the offer was too good to miss and he subscribed and paid for?20,000 new shares on this basis. However, Heave Ltd has since gone into insolvent liquidation, owing a?considerable sum of money to its unsecured creditors.?

With the remaining money of his investment Fin subscribed for 10,000 shares in Irk plc. Although they were?nominally ￡1 shares, he was required to pay a premium of ￡1 for each share he subscribed for. The shares?are currently trading at ￡2 per share.?

30

【論述題】

?Explain the extent of Fin's liability for Heave Ltd's debts?