Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Roger Rogue owned an Electrical Products business. Roger sold his business to Roger Electrical Pty Ltd, which he incorporated because he was worried about a

Roger Rogue owned an Electrical Products business. Roger sold his business to Roger Electrical Pty Ltd, which he incorporated because he was worried about a drop in sales and an escalation of trade creditors. Roger was the only shareholder and director of the company. He took out a debenture for $100,000 over the shares in Roger Electrical Pty Ltd. The company's creditors were owed $1,000,000 over the value of the business assets. The company went into liquidation. Roger's home was valued at $1,500,000 but he transferred it into his wife's name when the business was in trouble. Could the liquidator sue Roger for the debts owing to the company?

must include relevant case and the provisions of the Corporations Act 2001.

Refer to the answer method of the given sample

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elliott And Quinns Contract Law

Authors: Frances Quinn

12th Edition

1292251409, 978-1292251400

More Books

Students also viewed these Law questions

Question

8. How can an interpreter influence the message?

Answered: 1 week ago