$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

LAWS3100 Corporations Law

tag 0 Download4 Pages / 962 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


Flexible Ltd (Flexible) is a public company that sells physiotherapy equipment. There are 50 shareholders (a mix of employee and non-employee shareholders) all with equal shareholdings in the company. Since its registration the 5 founding directors (all validly appointed and registered with ASIC) have continued to direct the company.

At a meeting on 2 May 2017 the 5 directors of Flexible decided that changes in the market have reduced the capacity of Flexible to operate long term. As there is no probability of selling the business as a going concern, the directors have determined to wind up the company and, with the unanimous approval of members at a 9 June 2017 meeting, have appointed Cassell to act as liquidator.

Cassell agreed to act as liquidator and commenced as liquidator on 10 June 2017.

You work for Cassell as a graduate accountant and you have been instructed to write a memorandum advising on the following:

  • First whether each claim is a debt that Flexible is required to pay. You MUST explain your reasoning for each item by reference to the Corporations Act 2001 (Cth) and using the issue, rule application and conclusion approach. You must refer to the Corporations Act 2001 (Cth) and case law where relevant.

  • Second, explain and apply the order of priorities in the Corporations Act 2001 (Cth) to determine how much each claimant will receive and how much will be returned to shareholders if anything.

You are advised by the liquidator that Flexible has the following assets:

  • The Warren St building valued at $750,000;
  • Stock in trade that could be sold for $100,000 (this is the actual value that could be realized by a liquidator rather than its potential value if it was sold during normal commercial operations);
  • Cash and ASX listed shares in other companies valued at $500,000.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 4 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help (2021) Corporations Law [Online]. Available from: https://myassignmenthelp.com/free-samples/laws3100-corporations-law/case-study-of-flexible-pvt-ltd.html
[Accessed 24 September 2021].

My Assignment Help. 'Corporations Law' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/laws3100-corporations-law/case-study-of-flexible-pvt-ltd.html> accessed 24 September 2021.

My Assignment Help. Corporations Law [Internet]. My Assignment Help. 2021 [cited 24 September 2021]. Available from: https://myassignmenthelp.com/free-samples/laws3100-corporations-law/case-study-of-flexible-pvt-ltd.html.

MyAssignmenthelp.com has become one of the leading assignment help provider in New York City and Boston. We provide top class auditing assignment help. Not only auditing, but we also cover more than 100 subjects and our writers deal with all types of assignments with utmost expertise. To make writing process faster and accurate, we have segmented our assignment experts' teams as per their expertise on writing different types of assignments. We guaranteed that students who buy our assignment online get solutions worth their investment.

Latest Business Law Samples

BLO1105 Business Law

Download : 0 | Pages : 11

Answers 1. Issue 1 Was a binding contract present between Sam and Josie? Rule An agreement, which achieves all the elements which are required by the law, can be deemed as a contract and has legal validity, so long as it does not contain illegal terms or is not based upon illegal aspects. A contract denotes a lawful and binding agreement being drawn, whereby in exchange for a promise, consideration is paid and is drawn between two people or a...

Read More arrow Tags: Australia Auburn Management health finance management  University of New South Wales 

BULAW5914 Commerical Law

Download : 0 | Pages : 8

Answers 1. Issue Can an agency relationship be established amid Penelope and Rodney. If yes, then can the store sue Penelope for the expenses created by Rodney? Law In Australia, there are various business structures that prevail. In any business structure the owner of the business requires the help of other persons who carry out the tasks of the owner. These tasks that are undertaken by the employees of the owner make the owner bound by the ...

Read More arrow Tags: Australia Seddon Management Networking University of New South Wales Masters in Business Administration 

BFA714 Australian Tax Law

Download : 0 | Pages : 10

Answer: Issues In this case, the issues is related to the determination of the consequences of tax for smith. In order to do that the residential status of smith is determined, as he has to move out of Australia for the employment related purpose. The study will be helpful in determining the capital gain of the land subdivided by smith.   Legislation Subsection 995-1 (1) of the ITAA 1997; Taxation ruling of 98/17 C. of T. v. Appleg...

Read More arrow Tags: Australia Oak Park Management CDR for Plant Engineer(Power Plant) University of New South Wales 

PACC6009 Business Law

Download : 0 | Pages : 8

Answer: Introduction This paper seeks to analyse the macroeconomic performance of Australian economy over 26 years from 1990 to 2015. Major macroeconomic variables such as real GDP, real interest rate, inflation rate, unemployment rate, exchange rate and net export have been used in the performance analysis. Interest rates, Real GDP are real variables in this discussion and others are nominal variable. Real variables are adjusted with inflati...

Read More arrow Tags: Australia Sydney Economics Evaluation of Macro Economic Performance University of Sydney 

BUSM114 International Business Analysis

Download : 0 | Pages : 9

Answer Introduction: International business is considered as those business activities which are conducted at cross border and include dealing of goods and services between two or more countries. Transactions related to goods and services include capital, skills, and people for the purpose of international production of production of physical goods such as finance, banking, etc. at international level. International business can also be consi...

Read More arrow

5% Cashback

On APP - grab it while it lasts!

Download app now

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?