Question
Nana, Kaka, and Lili are the shareholders of Happy Sdn. Bhd. The authorized capital of the company is RM1 million. Nana has agreed to contribute
Nana, Kaka, and Lili are the shareholders of Happy Sdn. Bhd. The authorized capital of the company is RM1 million. Nana has agreed to contribute RM500,000, and the remaining balance is to be equally divided between Kaka and Lili. Nana and Lili have only paid 60% of their shares, while Kaka has paid up all her shares. They have decided to buy a shophouse in Inanam, which was initially belonged to Kaka. Unfortunately, upon completing the sale and purchase of the shophouse, the shophouse was destroyed in a fire. Nana, Kaka, and Lili have only realized that the unit's insurance was still in Kaka's name. Meanwhile, the company is now unable to pay its creditors, and they are now demanding payment from Nana, Kaka, and Lili.
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