Question
Cara, Helen, Vincent and Tiffany are shareholders of Tai Chi Limited and own 15%, 15%, 30% and 40% shares respectively. They are also the directors
Cara, Helen, Vincent and Tiffany are shareholders of Tai Chi Limited and own 15%, 15%, 30% and 40% shares respectively. They are also the directors of the company. Cara wishes to sell 10% of her shares. Tiffany is interested in purchasing Cara's shares but does not have sufficient funds. In order to purchase Cara's shares, Tiffany wants to obtain a loan from Tai Chi Limited. Helen disagrees with the granting of the loan to Tiffany.
Required: Advise and assess the possible internal procedures under Hong Kong Companies Ordinance for Tiffany to obtain the loan from the company.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started