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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
How would they know?
I thought members had access to the financial statements of the company
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 sir.Thank you
A big thank you sir for all the help. I did my Law exam yesterday and got 93%. I really appreciate it
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