Question Tag: Private Liquidation

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  • 10 Marks

BCL – Nov 2024 – L1 – Q2a – Legal Implications Relating to Companies in Difficulty or in Crisis

Advise Naami on the procedure for private liquidation of Shama PLC.

a) On 26 February 2024, Shama PLC, a public limited liability company trading on the Ghana Stock Exchange sent a notice to its shareholders inviting them to an Annual General Meeting (AGM) on 2 March 2024. The notice simply states that the ‘purpose is to transact the ordinary business’.

Naami is a shareholder of Shama PLC and is very disturbed about the vagueness of the notice. She is also not satisfied with the performance of the company and is seeking to requisition for a special resolution to liquidate the company.

Required:

Advise Naami on the procedure for private liquidation. (10 marks)

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  • 10 Marks

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.

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)

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  • 10 Marks

BCL – Nov 2024 – L1 – Q2a – Legal Implications Relating to Companies in Difficulty or in Crisis

Advise Naami on the procedure for private liquidation of Shama PLC.

a) On 26 February 2024, Shama PLC, a public limited liability company trading on the Ghana Stock Exchange sent a notice to its shareholders inviting them to an Annual General Meeting (AGM) on 2 March 2024. The notice simply states that the ‘purpose is to transact the ordinary business’.

Naami is a shareholder of Shama PLC and is very disturbed about the vagueness of the notice. She is also not satisfied with the performance of the company and is seeking to requisition for a special resolution to liquidate the company.

Required:

Advise Naami on the procedure for private liquidation. (10 marks)

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  • 10 Marks

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.

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)

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