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This document analyzes two proposals by Bua regarding a plastic company. Proposal 1 involves paying a $200,000 dividend from undistributed profits. This may not be permissible as it must be ensured the company remains solvent after payment. Preference shares held by Uncle must also be paid first. Proposal 2 involves Bua taking a $200,000 loan secured by a mortgage on the factory. As the new directors, Bua and her husband hold over 75% of shares and can grant the security. The proposal would be permissible a

Author

Shayal Chand

Language

EN