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Missy is the sole shareholder of Bespoke Hats Pty Ltd which operates a hat shop in Melbourne. The company itself does not have many assets,
Missy is the sole shareholder of Bespoke Hats Pty Ltd which operates a hat shop in Melbourne. The company itself does not have many assets, but Missy owns a large house in Melbourne as well as a beach house and several racehorses. Several of the company's creditors have not been paid for months and the company does not have enough assets to pay them. Could the creditors force Missy to sell her personal assets to pay the company's debts? Why or why not? Explain using IRAC.
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