Company Winding-Up

BCL – July 2023 – L1 – Q5c – Legal Implications Relating to Companies in Difficulty or in Crisis

Explain the consequences of winding-up a company by private liquidation.

Question

Three brothers Aba, Bawa, and Caroline registered a company (ABC Ltd) to supply cocoa products. The most influential member of the Board, Caroline, died five years into the life of the business. The surviving two directors decided to pass a special resolution by private liquidation to wind-up the business.

Required:

Explain FIVE (5) consequences of winding-up ABC Ltd by private liquidation. (10 marks)

Answer

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Tags: Company Winding-Up, Corporate Law, Insolvency, Private Liquidation
Level: Level 1

Topic: Legal implications relating to companies in difficulty or in crisis
Series: JULY 2023

Question Tag: Company Winding-Up

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BCL – July 2023 – L1 – Q5c – Legal Implications Relating to Companies in Difficulty or in Crisis

Explain the consequences of winding-up a company by private liquidation.

BCL – July 2023 – L1 – Q5c – Legal Implications Relating to Companies in Difficulty or in Crisis

Explain the consequences of winding-up a company by private liquidation.

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Question Tag: Company Winding-Up

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BCL – July 2023 – L1 – Q5c – Legal Implications Relating to Companies in Difficulty or in Crisis

Explain the consequences of winding-up a company by private liquidation.

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BCL – July 2023 – L1 – Q5c – Legal Implications Relating to Companies in Difficulty or in Crisis

Explain the consequences of winding-up a company by private liquidation.

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