| Bank of America, holding company for
the San Francisco-based Bank of America, was once unchallenged as the nation’s
biggest banking organization. At its peak, it had more branches hi California,
1,100 more than the U.S. Postal Service. It was also a highly profitable
enterprise. But since 1980, Bank of America’s earnings have been down or flat.
From March 1985 to March 1986, for example, earnings per share dropped 50.8
percent. Samuel H. Armacost, president and CEO, has confessed that he doesn’t
expect a turnaround soon. Some of Bank of America’s old magic seems to have rubbed off on New York’s Citibank, perennial rival for top banking honors. Thanks to aggressive growth policies, Citicorp’s assets topped Bank of America’s for the first time in 1983 and by a healthy margin. Citibank has also been gener A. is a dark horse in the field of banking B. has been growing in a moderate way C. has been making efforts to conquer the markets of Bank of America D. has more branches than Bank of America now [简答题]In relation to protecting creditors under company law:
(a) explain the doctrine of capital maintenance; (2 marks)
[简答题]Explain the circumstances under which a company may enter into:
(a) compulsory liquidation; (6 marks)
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