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The Articles of a company provided that the shares of a member who became bankrupt would be offered for sale to other shareholders at a certain price. Is the provision binding on the shareholders?
Wiki User
∙ 11y ago
The facts of the given problem are based on the decided case of Bore land Trustee vs. Steel Bros. & Co. Ltd., in which case, the provisions in the Articles were held to binding on the members. It was held that 'Shares having been purchased on these terms and conditions, it is impossible to say that those terms and conditions are not to be observed". Thus, since Articles constitute a binding contract between the Company and its members, the shareholders shall be held bound by the stated provision in the Articles.
Wiki User
∙ 11y ago
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Can a bankrupt start a new company?
In the UK a bankrupt cannot carry on a business. However, after twelve months of restriction, and provided no adverse behaviour on the bankrupt's part has taken place, a discharge is issued by the Court After discharge a bankrupt can carry on, or start, a business without the restrictions that applied during their bankruptcy. And, provided they are not subject to a separate disqualification order, a discharged bankrupt can also act as a director of a limited company or be involved in its management.
Are dividends paid out weekly in a limited company?
It is not normal for shareholder dividends to be paid weekly. Generally they are paid annually, bi annually or quaterly however there is no limitations on the time scales of the payments between dividend payments. You can legally pay dividends to the shareholders provided the company is in profit (not trading insolvently) and you might want to check your articles of association when you formed the company.
Do Capital Gold Mining aka Dixon Perot shareholders get refunded their stolen money?
If anyone needs help, turn to welswolf@aon.at or christina@edis.at May be I can help,provided you pursed shares by MFI and transferred money to HSBC Plc. Guernsey.
Unanimous Consent, Shareholders in place of Anl Mting?
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