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Q. Ownership and Control related issue of debt?
Issuing equity is able to have ownership implications for a company particularly if the finance is raised by a placing or offer for sale. Shareholders as well have the right to appoint directors and auditors and the right to attend general meetings of the company. whilst issuing debt has no such ownership inference an issue of debt can place restrictions on the activities of a company by means of restrictive covenants included in issue documents such as debenture trust deeds. For instance a restrictive covenant may specify a maximum level of gearing or a minimum level of interest cover or may forbid the securing of further debt on particular assets.
Uniform Capitalization Rules- These are a set of rules intended to be a single comprehensive set of rules to govern capitalization, or inclusion in INVENTORY of indirect and direc
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