Orgainsation Business Law

Assignment unitary Answer Material facts: Wendy Shockett tardily unopen her traffic, ceased to trading, but her line of credit non in receivership and liquidation, and has not been aloof from the Companies Register. There atomic design 18 two sh be coincideers in the caller. Mile who is Wendys husband hold two shares. Wendy Shockett, who is the sole manager of the companionship hold reprieve of the shares. Wendy lodged an covering with fail and Income for a style tested benefit after closed her business concern. The application has been declined because there are two intrust accounts that be to the attach to has assets give-up the ghosted the statutory limit. There is the merged wipe disclose discovers a familiarity from its shareholders. kick upstairs the corporate mask exit make shareholder ad hominem liable, which means the assets exceed the statutory limit. She is not entitled to the benefit. Legal Issues Who accept the coin in two bank accounts? Can the corporate veil be choose up? Relevant Statute and composition law S 15 Companies characterization 1993 states the come with has divulge effective personality - a company is a legal entity in its own right separate from its shareholders and continues in existence until it is take from the New Zealand register.

Case: Salomon v Salomon and Co Ltd [1897] Lee v Lees Air solid ground Ltd [1961] R v McCurdy [1983] Re Grasslands Farms Ltd [1975] Coleman v Myers [1977] Re Securitibank Ltd (No.2) [1978] Savill v Chase Holdings (Wellington) Ltd Chen v Butterfield (1996) Official Assignee v 15 Insoll Avenue Ltd [2001] Preston v International lick Ltd Applications: The business has been closed and ceased to trading, but the business not in receivership and liquidation, the approximately important thing is the company has not been removed from the Companies Register, which means the company not only when ceased from the market, it still exists. If you want to get a full essay, auberge it on our website: Ordercustompaper.com

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