Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

In March 2004, Cassandra set up in business as a sole trader offering various video-related services from leased studio premises located in South Belfast. In April 2006, she formed Picture This Ltd and, in consideration of the transfer of the business and its assets, including the leased studio premises, to the company, she was issued with 30,000, £2 shares in Picture This Ltd. Cassandra was the sole shareholder and director; she signed a contract of employment with Picture This Ltd and received a salary of £20,000 p.a.

In October 2007, she gave the company a loan of £12,000 to be used to finance new audio equipment. The loan was secured by a floating charge over the company's assets. In February 2008, a gas explosion resulted in Cassandra receiving severe burn injuries to her face, arms, hands and legs; the studio was also extensively damaged in the blast. Cassandra's insurance policy on the building and contents was taken out in her name in March 2004.

In May 2008, although has company was operating with modest financial success, Cassandra decided that, in view of her long-term injuries, she would seek early retirement and dissolve Picture This Ltd.

Advise Cassandra on the following:

a) Her right to claim under her insurance policy for the fire damage to the studio;

b) Her right to claim as a secured creditor in respect of her floating charge; and

c) Her claim against Picture This Ltd for compensation for her injuries.

I'm confused on whether Cassandra can claim for the fire damage to the studio as the insurance policy was taken out in HER name in 2004 but in 2006 she transferred all assets and the leased studio to the company. Does this mean her company can claim and not Cassandra or as shes the sole shareholder can she claim?

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M935496

Have any Question? 


Related Questions in Homework Help/Study Tips

Q1 suppose the state of new jersey is considering a public

Q1. Suppose the state of New Jersey is considering a public works project that would improve the quality of its ocean beaches. Proponents argue that the project would increase tax revenues from tourism by $4 million per ...

Instructions1 create an ethical legal decision-making

Instructions: 1 Create an ethical legal decision-making dilemma involving an advanced practice nurse in the field of education, informatics, administration, or a nurse practitioner. Apply relevant codes of conduct that a ...

I need a 25-page research thesis the topic is why civil

I need a 25-page research thesis. The topic is "Why Civil Asset Forfeiture for Minor Drug Offenses Violates Due Process". Based on US law and statistics

Assignment integrated business communication1 as a future

Assignment: Integrated Business Communication 1. As a future executive, explain what you think are the most important communication issues you will have to face as you embark upon your career. 2. Discuss whether communic ...

It is common knowledge that in todays business environment

It is common knowledge that in today's business environment, organizations must continually strive to achieve a competitive advantage. Likewise, they are reliant on large amounts of data to make their business decisions. ...

Using the lp problem in the text shown in example run a

Using the LP problem in the text shown in Example, run a linear program to find the following: 1. The coal unloading machinery at plant 2 is going to be taken out for maintenance for 1 week. During the maintenance work, ...

Assignment predicting crime with the uniform crime

Assignment: Predicting Crime with the Uniform Crime Reporting System In your final consulting assignment, the mayor of Centervale and the city counsel have asked you to help them understand how to better predict crime ra ...

What is the difference between a state that decriminalizes

What is the difference between a state that decriminalizes marijuana and one that legalizes it? Define both terms, give examples, and cit your research.

Predicting gaps and paritiesleaders of health care and

Predicting Gaps and Parities Leaders of health care and health information technology are charged with a vision for growth and improvement. Technology is advancing in health care at an unsurpassed rate. Some health care ...

Nutrition project questions-according to table 1 analysis

Nutrition Project Questions- According to Table 1 analysis which nutrient(s) were you deficient (fiber, vitamin C, calcium, iron) or did you over consume (calories, fat, saturated fat, trans fat, cholesterol, sodium)? Ac ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen