Reference no: EM131057791 , Length: word count:2000
BUSINESS AND COMPANY LAW ASSIGNMENT-
Mr. Smith is a retired director of XYZ Co Ltd, he was not appointed a director for the current year (2014), but still attends to many of the business matters within the company, and also attends the directors meetings to advise and mentor the new directors. Mr Smith receives a consultancy fee for his work, and the new directors generally follow the advice of Mr Smith in the way in which they run the company.
The company was recently audited and the auditors and directors with the recommendation of Brian the companies CFO have signed off the 2015 financial accounts as correct and true.
At the end of 2015 XYZ company is unable to pay a number of its immediate debts, so Mr Smith, on behalf of the company, negotiates with a number of creditors for an extension of time to pay back what the company owes. However, early in 2016 the company resolves to place itself into voluntary administration. The external administrators discover that the company had sold some of its quite valuable property to Mr Smith for a price below market value before his retirement as a director.
Required:
• Advise the directors whether they are liable for breaching the insolvent trading provisions of the Corporations Act 2001. Also advise whether they have any defences available to them if they have in fact breach the insolvent trading provisions.
• Advise the directors and other officers whether they have any liability for signing off on the 2015 financial accounts.
• Advise what is the liability of Mr Smith for his actions leading up to the voluntary administration of XYZ Co Ltd? Explain what law might apply to Mr Smith and whether he has breached any duties owed to the company committed any offences.
2000 words.
10 references.
Planning and design phases of a project
: "Since the construction phase of most construction projects requires more resources and effort than the planning and design phases of a project, it is the phase that most influences the successful outcome of the project."
|
Calculate the price for the put option matures
: The stock price for Lawrence Corp. today is $20 and in each period the stock price goes up by 6% or down by 3% from what it was in the previous period. When the one-period interest rate is 1%, calculate the price for the put option (underlying asset:..
|
Question regarding the employee health plans
: Assess two consumer-driven health plans based on the effects they have on human resources and employee benefits. Provide specific examples to support your rationale.
|
How much does elaine gain from preparing her own tax return
: Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $130 for this service. Over a period of 17 years, how much does Elaine gain from preparing her own tax return?
|
Explain what law might apply to mr smith
: BLO 5540 - BUSINESS AND COMPANY LAW ASSIGNMENT. Advise what is the liability of Mr Smith for his actions leading up to the voluntary administration of XYZ Co Ltd? Explain what law might apply to Mr Smith and whether he has breached any duties owe..
|
Hiring and training the diverse populations
: Goodwill has found success in the social services. What problems might result from hiring and training the diverse populations that Goodwill is involved with?
|
The poh of the solution will be
: The solution was prepared by dissolving 0.0005 mol of Ba(OH)2 in 100 ml of solution.If the base is assumed to ionize completely,the pOH of the solution will be.?
|
Each plan as compared to that for an all-equity plan
: Haskell Corp. is comparing two different capital structures. Plan I would result in 12,000 shares of stock and $100,000 in debt. Plan II would result in 8,700 shares of stock and $155,000 in debt. Assuming that the corporate tax rate is 40 percent, w..
|
Corporate governance guidelines at xerox
: Go to www.xerox.com. In the search box, type in "corporate governance guidelines." Open the document titled "Corporate Governance Guidelines at Xerox."
|