Georgia Ford is a director and 60 per cent shareholder of Fords Catering Services Pty Ltd. Her sisters Ellen and Molly are the other directors and each own 20 per cent of the shares. For most of this year Fords Catering Services Pty Ltd has suffered acute financial problems. It has been continually late in paying debts due to its major suppliers.

The directors soon realise that the companys liquidation is imminent, but they want to continue trading using the companys name as it is well known to the companys numerous customers. At the suggestion of the companys accountant, a shareholders meeting of Fords Catering Services Pty Ltd is convened and a resolution is passed changing the companys name to Black Pudding Pty Ltd. At the same time a new company is incorporated called Fords Catering Services (Aust) Pty Ltd, with Georgia, Ellen and Molly as its directors and shareholders. After the name change, Black Pudding Pty Ltd ceases operations and the new company simply takes over the business formerly conducted by Black Pudding Pty Ltd. Recently the court, on the application of Acme Food Suppliers Ltd, orders that Black Pudding Pty Ltd be wound up in insolvency.

Required:

Advise the liquidator what legal action, if any, can be taken against Georgia, Ellen and Molly in connection with the transfer of the business and the name Fords Catering Services to Fords Catering Services (Aust) Pty Ltd.

Could I BE able to get the answer ASAP!!

Will make sure to give a thumbs up!! Thanks alreaDY