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LIQUIDATION

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › LIQUIDATION

  • This topic has 7 replies, 2 voices, and was last updated 2 years ago by MikeLittle.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • July 10, 2022 at 6:27 pm #660245
    Eunice03
    Participant
    • Topics: 88
    • Replies: 70
    • ☆☆

    32.5 Which of the following CANNOT petition for the compulsory liquidation of a company on the grounds of
    insolvency under s 122 Insolvency Act 1986?
    ? The board of directors
    ? The members of the company
    ? The company’s creditors
    ? The Secretary of State

    ANS- The members of the company

    Good day sir, Please can you explain why the members of the company cannot petition for a compulsory liquidation on the grounds of insolvency

    July 10, 2022 at 7:41 pm #660250
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    How would they know?

    July 14, 2022 at 4:48 pm #660503
    Eunice03
    Participant
    • Topics: 88
    • Replies: 70
    • ☆☆

    I thought members had access to the financial statements of the company

    July 14, 2022 at 7:16 pm #660514
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    They do … but only as and when the company produces them … and for a public quoted company, that’s not going to be less than three months after each quarter end

    OK?

    July 14, 2022 at 8:35 pm #660525
    Eunice03
    Participant
    • Topics: 88
    • Replies: 70
    • ☆☆

    Ok sir.Thank you

    July 14, 2022 at 10:03 pm #660532
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    You’re welcome

    July 16, 2022 at 7:20 pm #660688
    Eunice03
    Participant
    • Topics: 88
    • Replies: 70
    • ☆☆

    A big thank you sir for all the help. I did my Law exam yesterday and got 93%. I really appreciate it

    July 17, 2022 at 6:42 am #660695
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Oh Eunice! I’m so sorry! Where did you lose those 7 marks?

    That’s a wonderful result 🙂 Many, many huge congratulations. And a fully deserved result too

    Good luck with the remainder of your studies in your ACCA journey and you will certainly find that my OpenTuition colleagues are equally knowledgeable and willing to help

    Thanks for letting me know your result

  • Author
    Posts
Viewing 8 posts - 1 through 8 (of 8 total)
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