更多"Flametree Pte Ltd, a company produc"的相关试题:
[简答题]Cuppycakes Pte Ltd (Cuppycakes) is a confectionary business. In January 2009, the board of directors took a loan from Future Bank to set up a new retail outlet in Jurong. To secure the loan, Future Bank took a fl oating charge over the undertaking of Cuppycakes. Cuppycakes is now in the process of winding up. The main claims against Cuppycakes are:
(i) a S1·5 million mortgage by Present Bank over Cuppycakes’ factory in Bedok;
(ii) $80,000 in respect of a debt due to a supplier;
(iii) $100,000 unpaid taxes owing to the Inland Revenue Authority of Singapore; and
(iv) Future Bank’s fl oating charge.
Future Bank has realised that the fl oating charge over the undertaking of Cuppycakes was never registered with the Accounting and Corporate Regulation Authority.
Required:
(a) Discuss whether Future Bank’s fl oating charge is enforceable. (5 marks)
(b) Explain the order of priority of payment in respect of the above claims in Cuppycakes’ winding up. (5 marks)
[简答题]Rich Pte Ltd has gone into insolvent liquidation. The company has a factory in Singapore. Beng owns 10,000 ordinary shares in Rich Pte Ltd, which are paid up to 50%. The company owes;
(i) $130,000 in unpaid wages to employees,
(ii) $200,000 in respect of goods bought on credit,
(iii) $1 million to a bank supported by a fixed charge over the land on which the factory is built.
Required:
(a) Explain what funds are available for distribution by the liquidator; and (3 marks)
[简答题]The articles of association of Pelican Pte Ltd (Pelican) provide as follows:
Article 5: The holders of Class A shares shall be entitled to receive 5% per annum cumulative dividend.
Article 6: The rights attached to Class A shares may be varied with the consent in writing of the holders of 80% of Class A shares.
Joe, the Chief Executive Officer of Pelican, wishes to reduce the dividend payable to Class A shareholders from 5% to 4%. He is afraid the company will not be able to obtain the written consent of 80% of Class A shareholders as required by article 6.
As such, Joe wishes to get Pelican to amend article 6 such that the level of consent required from Class A shareholders is reduced from 80% to 75%. After article 6 has been amended, the company will then proceed to amend article 5 to reduce the dividend from 5% to 4%.
Required:
Advise Pelican on the procedure to first amend article 6 and to then amend article 5. (10 marks)
[简答题]Andy was the managing director of Alpha Pte Ltd (‘Alpha’), a computer technology company. Andy was tasked by Alpha to actively pursue and negotiate a contract with Beta Pte Ltd (‘Beta’) to develop a revolutionary internal audit software. However, Beta was not keen to enter into the joint venture with Alpha and preferred to work with Andy instead. Andy resigned from his post with Alpha and personally entered into the contract with Beta. When the internal audit software was developed and became a huge commercial success, Andy made a large profit.
Required:
Discuss whether Andy has breached any duty as a director of Alpha when he entered into the contract with Beta, and the consequences of such a breach. (10 marks)
[简答题]The Lim family incorporated Good Build Pte Ltd (‘Good Build’) as the vehicle for their renovation business. For many years, the business of Good Build was conducted with Mr and Mrs Lim and their son, Luke, as directors. Mr Lim died last year. Mrs Lim became managing director of Good Build because she had promised her husband she would take over his position as managing director. However, Mrs Lim was a shadow of her former self after her husband’s death and she lost interest in running Good Build. She signed whatever cheques and documents Luke asked her to sign and went along with all of Luke’s decisions. Luke, who was under pressure to settle his debts, subsequently perpetrated a fraud on Good Build. Good Build was wound up as an insolvent company and the liquidator wished to bring a civil action against Mrs Lim.
Required:
Discuss whether Mrs Lim has breached any duty as managing director of Good Build. (10 marks)
[简答题]Dan is the managing director of Ace Pte Ltd. He entered into a contract on behalf of the company to buy a shophouse in a prime location in the city centre for a rather high price of $4 m. The other directors were not happy with Dan’s action because the price was too high and they felt it was not a good time to buy property. In addition, Article 58 of the articles of association of the company, states:
‘The managing director shall have authority to enter into, on behalf of the company, agreements for the purchase of property provided that the purchase price per agreement shall not exceed $500,000. Where the purchase price of a proposed agreement exceeds $500,000, the prior approval of the board of directors is required.’
Required:
Advise whether Ace Pte Ltd is bound by the purchase agreement. (10 marks)
[简答题]Initial Pte Ltd was set up 10 years ago by a group of friends during the dot com boom. The company has been rather inactive in the last two years and the shareholders have lost interest in the business. Cheong, who owns 20% of the shares in Initial Pte Ltd, wants to liquidate the company.
Required:
Advise Cheong how and when he can take steps to liquidate the company. (10 marks)
[简答题]Mega Pte Ltd (Mega) was engaged in the business of real property investment. Alan and Bob incorporated Mega in 1980, with Alan holding 60% of the shares and Bob holding 40% of the shares in Mega. Alan and Bob were directors of the company. Prior to Mega’s incorporation, Alan and Bob were operating the same business as a partnership. Although Alan held more shares than Bob in Mega, Alan always consulted with Bob and decisions of the company were always made by consensus of both directors.
Some years later, Alan and Bob died, within months of each other. After Alan and Bob died, their shares were passed on to their children. Alan’s two sons, Don and Elliot, each held 30% of the shares in Mega and both became directors of Mega. Bob’s son, Charles, held 40% of the shares in Mega and was a director of Mega. The board of Mega was split into two rival camps, with Don and Elliot on one side, and Charles on the other side. Charles has told you the following:
1. Don and Elliot had diverted inv
[简答题]Carol worked for Win Pte Ltd (‘Win’) for 20 years. She was personal assistant to Jack, the chief executive officer and chairman of Win. Over the years, Jack rewarded her with small numbers of shares in Win. To date, Carol owns 2% of the shares in Win. Jack recently hired Jill as the company’s information technology (IT) manager. Jill could not get along with Carol. Jack took Jill’s side and asked Carol to resign from the company. Carol knew that Jack had made some mistakes in the past. First, he hastily purchased a new IT system without evaluating what other systems there were in the market and the new IT system turned out to be an expensive failed experiment. Second, he did not attempt to recover a substantial amount of debts owed by Win’s customers. After Carol resigned, she wrote a letter to the board of directors of Win to ask them to sue Jack to recover the losses he caused Win to incur. The board of directors ignored her letter.
Required:
In relation to the law on minority prot
[填空题]What kind of company is Philips & Henderson Ltd.
______ of silk cloth.
[简答题]Sam Company Ltd. produces a range of products and absorbs production overhead using a rate of 168% on direct wages. The absorption rate was calculated from following budgeted figures:
＄
Direct wages 100,000
Fixed production overhead 90,000
Variable production overhead 78,000
Sam is making component W, which is an essential part of product M. The cost of making component W is as follows:
＄
Raw material 10
Direct wages 8
[简答题]Marange Steelmakers Ltd is a public company which is duly registered and is operating in terms of the laws of Zimbabwe. It is a construction company whose registered address is in Harare. It started as a private limited liability company, which converted into a public company in 2005. It was registered on the Zimbabwe Stock Exchange in February 2006 after launching a very successful Initial Public Offer (IPO) to the investing public.
Between 2006 and 2009 the company only made modest profits and did not declare a dividend. However, for the 2010 financial year the company made a massive profit after tax of $100 million and the directors decided to put aside $70 million to boost reserves and $30 million for dividends.
The majority of the shareholders were extremely unhappy over this development and at the Annual General Meeting which was held in April 2010, they decided to reallocate half of the profits after tax ($50 million) towards dividends and the other half ($50 million) towards
[简答题]Property Ltd is a company, which was incorporated in Hong Kong two years ago and adopts the current version of Table A of the Companies Ordinance (Cap 32) as its articles of association. The company does not state its object in its memorandum of association. The company now mainly engages in the car retailing business.
Elton is a minority shareholder of the company. Recently, he heard from other shareholders that the board of directors intends to pass a resolution to widen the scope of business of the company by making investment in the real property market. The purpose of the resolution is to increase the source of income and hence the profit of the company.
Elton and some other shareholders are not comfortable with such a decision of the board.
Required:
Advise Elton on the following:
(a) Whether he can commence a legal action to stop the board from exercising its power to pass the resolution. (6 marks)
[简答题]ABC Ltd is a company running a computer retailing business. Recently, a bank has offered to advance to the company a sum of money by way of a charge.
The charge demands the company to use all the computer stock of the company as security for repayment. The charge document also provides that the charge will be crystallised if the total liabilities of the company should exceed HK$5 million.
Required:
In relation to the loan capital of a company:
Advise the company as to the nature of the charge and the consequence if the liabilities of the company should exceed HK$5 million. (10 marks)
[填空题]
Sky Systems Ltd: Website Directory- A. Company History
- B. Company Organisation
- C. Annual Report
- D. Company Goals
- E. Product Information
- F. Retail Outlets
- G. Customer Complaints
- H. Latest News
Benjamin Tidswell wants the address of his nearest Sky Systems dealer.
[简答题]Goal Ltd is a property development company. Before its incorporation 12 months ago, its business was carried out by Hope, as a sole trader. On the formation of Goal Ltd, Hope expanded the business by asking three of his business contacts to supply additional capital in return for which they, together with Hope, became its directors. Although never formally appointed, Hope took the role and title of chief executive and the other directors left the day-to-day running of the business to him and were happy simply to receive feedback from him at board meetings.
Six months ago Hope entered into a contract, on Goal Ltd’s behalf, with Ima to produce plans for the redevelopment of a particular site that it hoped to acquire. However, Goal Ltd did not acquire the site and due to its current precarious financial position and their fear of potential losses, the board of directors has refused to pay Ima, claiming that Hope did not have the necessary authority to enter into the contract with her.
R
[简答题]ABC Ltd is a private limited liability company which carries on business in the tourism industry. ABC Ltd has adopted Table A as its articles of association. The only assets which ABC Ltd holds are two hotels, which are both in operation. Due to the global economic crisis, ABC Ltd faces fi nancial diffi culties. Amanda, who is one of the directors of ABC Ltd, is contemplating ways to help ABC Ltd raise money.
Required:
Advise Amanda on the ways ABC Ltd may raise money. (10 marks)
