Question
In 1988, Get Smart Limited, a company was incorporated with all its shares owned by Big Lemon Limited, purchased and repaired the vessel Sweet Lime
In 1988, Get Smart Limited, a company was incorporated with all its shares owned by Big Lemon Limited, purchased and repaired the vessel Sweet Lime, which was its only asset, with funds provided and managed through Big Lemon Limited.In March 2005, Biggus Michealas, began an action against Get Smart Limited, claiming damages for breach of an agreement for the sale of the vessel, and, in May 2006, the vessel was sold to a third party and the sale moneys were immediately transferred to Big Lemon Limited.Biggus Michaelas realizes that Get Smart Limited would have no funds to satisfy any court award and would like your advice on how to proceed further. Please advise.
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