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shares in a company which had a nominal value of pound 1 where trading at a market price of 12.5 pence.in an honest to refinance the company,new pound 1 prefference shares were issued and credited with 75 pence paid up the company subsequently went into liquidition.
HELD
the holder of the shares were required to pay further 75 pence per share
why mike shareholder pay further 75 pence they have only liability on liquidation which is equal to amount contributed in capitalNo, their liability is “limited to the amounts, if any, as yet unpaid on shares held by them”
They bought $1 shares but only paid 12.5 cents so they are still liable for the remaining 87.5 cents (You need to sort out your mathematics! 1 pound minus 12.5 pence does not equal 75 pence)
what is crystalization of charge and mike when the loan is secured with asset then what is charge on that asset means please explain this simply
What has this got to do with the previous topic?
New topic? New thread!
“Crystallisation” means that there has been a default on the loan terms and the money becomes immediately repayable. If there’s no money, the lender can take the assets that were the subject of the charge
I’ve just explained your second question too
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