Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Basic Finance Expert

1. Atan, Bella and Chan are the directors of ABC Bhd, a company which supplies stationery to schools and universities. Atan is the managing director of the company. Last week the court ordered ABC Bhd to be wound up on the ground that it was unable to pay its debts. Among the creditors of ABC Bhd is JKL Bhd, which had supplied a large quantity of stationery to ABC Bhd. A week before Atan, Bella and Chan ordered the stationery from JKL Bhd, they were informed by ABC Bhd's accountant that ABC Bhd was hopelessly insolvent and that it would be unable to pay its debts.

(a) Assume that Atan, Bella and Chan had ordered the stationery in the hope that it could be used to help the company to return to solvency.

(i) Advise whether Atan, Bella and Chan have committed any criminal offence under the Companies Act 2016.

(ii) Advise whether Atan, Bella and Chan can be made personally liable for the debt due to JKL Bhd.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M92590800
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Basic Finance

Great start to our discussion on the cost of capital

Great start to our discussion on the Cost of Capital. Basically it is the cost of all financing for a business. As a manager would we want the cost of capital to be lower or higher? Why

Friendlys shoe store has earnings before interest and taxes

Friendly's Shoe Store has earnings before interest and taxes of $20290 and net income of $10000. The tax rate is 34 percent. What is the times interest earned ratio? Round your answer to the nearest hundredth.

It is january 1 2018 and you have just won the lottery

It is January 1, 2018 and you have just won the lottery which pays you $1,000 per month for 50 years. It begins paying out on January 31st, 2025, which is after a seven year wait. Assuming an interest rate of 6% (annual ...

Question - suppose that the number of ounces of soda put

Question - Suppose that the number of ounces of soda put into a soft-drink can is normally distributed with µ = 12.05 ounces and s = 0.03 ounce. a. Legally, a can must contain at least 12 ounces of soda. What fraction of ...

1 an analyst has modeled xyz stock using the fama amp

1.) An analyst has modeled XYZ stock using the Fama & French three factor model (FF3FM). Over the past few years the risk premium on SMB was 2.75% and the risk premium on HML was 3.50%. Regression analysis shows that XYZ ...

Project q costs 240 it provides inflows of 120 per year for

Project Q costs 240. It provides inflows of 120 per year for three years. The cost of funds is 6%. Find the replacement chain value needed to compare it to a six year project.

A 3d printer company decided on new product features and

A 3D printer company decided on new product features and design after extensive prototyping for its new printer. The company's marketing team created some buzz by posting a YouTube video displaying a variety of projects ...

What is the present value of 10000 to be received in 6

What is the present value of $10,000 to be received in 6 years? Your required rate of return is 8% per year. Please show the explanation of work so i will be able to figure out other calculations.

Please help me study for a test by helping me with this

Please help me study for a test by helping me with this question and showing work/formulas used. A trust agreement you inherit from your great aunt states that you are to receive $2,000 on the first day of each year, sta ...

1 how to find the total shortage for company sells 2338

1. How to find the total shortage for Company sells 2338 chairs a year at an average price per chair of $185. The carrying cost per unit is $25.67. The company orders 579 chairs at a time and has a fixed order cost of $5 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As