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

Case study bullying the amanda todd storyrecent history

Case Study : Bullying: The Amanda Todd Story Recent history illustrates that bullying is a growing problem among today's youth in the United States. Amanda Todd, for example, was only fifteen (15) years old when she comm ...

What literary devices are in this poem what type of poem is

What literary devices are in this poem? What type of poem is it? Tell me Where is it written In this oral tradition What what I create Is subject to such dictations Lorded over by some sort Of ethno-eccentrics That says ...

View the video curing kids with extreme social phobias

View the video Curing Kids with Extreme Social Phobias. (http://abcnews.go.com/Nightline/video/curing-kids-extreme-social-phobias-15176268) In your post, compare and contrast social phobia in children versus adolescent d ...

What is meant by subjective timefor our class discussion

What is meant by subjective time? For our class discussion, please provide an example of when you experienced it and the circumstances of the event. Attachment:- unitv_1_0.rar

Part a -1 in a family with familial breast cancer a brca1

Part A - 1) In a family with familial breast cancer, a BRCA1 mutation has been identified in the index case, a women of 51 years old with breast cancer. Her daughter of 27 is not affected, but is willing to take predicti ...

Why do you thinks its important to understand different

Why do you thinks its important to understand different cultural food pyramids when making recommendations to patients about wellness?

The journal is a time for you to reflect on the content of

The Journal is a time for you to reflect on the content of the unit. It is an informal and viewable to yourself and your instructor. You can access the Journal on the blue menu bar at the top of the page. Prevention prog ...

Motivation please respond to the followingdescribe an

"Motivation" Please respond to the following: Describe an activity you enjoy (and engage in consistently) and discuss your motivation for engaging in that activity by applying the concepts discussed in Chapter 9. Provide ...

1 describe the four types of identity statuses as outline

1. Describe the four types of identity statuses as outline in James Marcia's theory of identity formation. Give an example for each identity status. How does Marcia's theory differ from Erikson's theory of identity forma ...

Question 1explain the differences between delegation and

Question 1 Explain the differences between delegation and empowerment. Your response must be at least 500 words in length. Question 2 We see an increase in one-way communications with our advanced technology. What can we ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

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