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ILLUSTRATION 13 Liquidation of YZ Ltd commenced on 2nd April, 2008. Certain creditors could not receive payments out of realisation of assets and Out
ILLUSTRATION 13 Liquidation of YZ Ltd commenced on 2nd April, 2008. Certain creditors could not receive payments out of realisation of assets and Out of the contributions from list contributories, The following are the details of certain transfers which took place in 2007 Shareholders A P Q 2,000 No. of Share: Date of Ceasing to be a member Creditors and outstanding on the of such transfer 1st March, 2007 $5,000 1,500 1,000 R S 500 1st May, 2007 1st October, 2007 1st November, 2007 $3,300 $4,300 $4,600 300 1st February, 2008 $6,000 All the shares were of $ 10 each, $8 per share paid up. Show the amount to be realise from the various persons listed above ignoring expenses and remuneration to liquidator etc,
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