Get 20% Off + $20 Signup Bonus ! Limited Time, Hurry !
Get 20% Off + $20 Signup Bonus ! Limited Time, Hurry !
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Stuck on Your Question?

Get 24x7 live help from our Top Tutors. All subjects covered.

loader
250 words

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Students Who Viewed This Also Studied

33 Pages
QA Plan

This unit of study focuses on 3 core project/program management knowledge and competency areas,namely (1) project quality management; (2) project risk management; and (3) project procurementmanagement ...

Type

Assignment

Subject

1 Page
CUSTOMER SERVICE

Its an online course.. got some number of assessment to submit. I have attached a sample to you here so you know what they wanted.. Thanks. Note: I dont know what the reference style is.. just h ...

Type

Thesis

Subject

8 Pages
Management Accounting

Required to prepare a report on a topic provided at the end of this paper. The main report should not exceed 1,000 words. Additional pages should include a reference list using the APA referencing sty ...

Type

Assignment

Subject

3 Pages
EG17700_31776_050915/Leadership Training

The organization is Verizon Wireless Write a paper recommending a leadership theory. Address the following: •Why do you believe this particular theory is the best for your organization? What is ...

Type

Assignment

Subject

Company Law

Question

Answered

John and Kevin have been good friends since high school.  On graduation, John and Kevin decide to establish their own business.  They set up a company, known as Genius Limited, to develop mobile apps for corporate customers.  It is a private company limited by shares.  There is pre-emptive right in the articles of association.

 

John holds 70% of the shares in the company and Kelvin holds the remaining 30% of the shares.

 

One year has passed.  The business is successful, but Kelvin plans to change job.  He gets an offer from an international social network company.  If he accepts the offer, he will be required to quit Genius Limited and sell his shares in it.  Hence, he intends to sell his shares in Genius Limited to his friend, David, for HK$700,000 in order to realise his investment.

 

John, however, does not want to share the business with a stranger.  If the shares will be sold, he wishes that his brother Leo buy them.

 

However, as a fresh graduate, Leo cannot afford to buy Kelvin’s shares in Genius Limited.  Hence, John proposes that Kelvin sells the shares to John himself first. Genius Limited will pay Kelvin HK$700,000 first.  Later when John is entitled to dividends from Genius Limited as a shareholder, he will use the dividends as a setoff against the sum of HK$700,000.  At that time he will transfer the 30% shares to Leo free of charge.

 

Please answer the following questions:

 

a.      Genius Limited is a private company limited by shares.  What is the difference between a private company limited by shares and a public company? (6 marks)

 

b.      John proposes that Genius Limited pay Kelvin HK$700,000 first.  In what circumstances will John’s proposal be considered illegal if it is carried out? (25 marks)

 

c.       What is the meaning of ‘pre-emptive right’ mentioned in the question above?  Both John and David want to get Kelvin’s shares.  John argues that in view of the dispute, he should get the shares because he is the majority shareholder.  Do you think John should have a prior right over David? (12 marks)

 

d.      Do you think Kelvin can sell his shares to David even though John objects?  What document will you read before you answer this question? (7 marks)

 

 

Question 2 (50 marks)

 

Franklin and George are partners in the business of property redevelopment.  They operate their business through F&G Limited, a company incorporated in Hong Kong.  As a result of the property boom in recent years, F&G has been making huge profits.  As the business is capital-intensive, F&G has reserved a large proportion of its profits as capital reserve for future redevelopment.  Nevertheless, due to a recent economic downturn, F&G is finding it increasingly difficult to maintain its business.  Franklin intends to reduce the capital for reparation to the shareholders.

 

Answer the following questions 

a.      George asks whether repurchase of a company’s own shares is against the law.  Please answer his question with reference to the relevant legislation and explain to him the reason behind the legislation. (25 marks)

 

 

b.      Advise George by outlining the procedures if F&G wants to reduce its capital. (25 marks)

Company Law

Answer in Detail

Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

25 More Pages to Come in This Document. Get access to the complete answer.

MyAssignmenthelp.com is the best assignment help provider serving thousands of students in New York City, Boston, Washington D.C. and Chicago. With a team of qualified and experienced online assignment experts, we deal with all types of assignment writing tasks. Our popular assignment help services include marketing assignment help, auditing assignment help, finance assignment help, statistics assignment help, help with law assignments. We guarantee that students, who decide to buy assignments online, get work worth their money and time.

More Company Law : Questions & Answers

Q

QA Plan

This unit of study focuses on 3 core project/program management knowledge and competency areas,namely (1) project quality management; (2) project risk management; and (3) project procurementmanagement. The aims are to develop basic project management competency with focus on these coreareas. In shor ...

View Answer
Q

CUSTOMER SERVICE

Its an online course.. got some number of assessment to submit. I have attached a sample to you here so you know what they wanted.. Thanks. Note: I dont know what the reference style is.. just have to click something to let me submit it. ...

View Answer
Q

Management Accounting

Required to prepare a report on a topic provided at the end of this paper. The main report should not exceed 1,000 words. Additional pages should include a reference list using the APA referencing style. Essay: “Leasing transactions adversely influence earnings management”. Leasing has b ...

View Answer
Q

EG17700_31776_050915/Leadership Training

The organization is Verizon Wireless Write a paper recommending a leadership theory. Address the following: •Why do you believe this particular theory is the best for your organization? What is your rationale? What research can you cite to support your choice? What are the factors in your orga ...

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

Choose Our Best Expert to Help You

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?