[khanja]

I knew the definition for a promoter but the ques also asked how are they regulated which I didnt know at all.

What was part b) of that ques?

[khanja]

Anyway this is a Law exam. There are not marks going for getting figures correct but for stating and apply laws.

But it was a very reasonable paper and I will be disapointed if I havent passed.

[khanja]

Also there were 3 of them all had 1000 £1 shares with 75p owing per share.

so 1000 x 75p = £750 each so £2250
The other assets were given as £7750
so after the fixed charge/land was dealt with there was £10k left for creditors

[khanja]

The personal garantee was for any other debts with the bank so this would include the overdraft

[Author]

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