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Hi Professor,
I am wondering whether the court has to lift the veil in the below circumstances:
For example, Wendy is the sole director and sole shareholder of the company. She recently closed her business, ceased to trade, but the company is not in receivership or liquidation and has not been removed from the Companies Register.
In this situation, if Wendy would like to get benefit from government, which will assess her asset to see whether it is within the qualified limitation.
Will the company’s assets be taken into Wendy’s account? Or they are still separate to each other.
Thanks
Wendy has no interest in the assets of the company, Wendy Ltd.
However, included within Wendy’s assets are the shares in Wendy Ltd and they would most likely be valued on an assets-basis so, indirectly, the company’s assets will be included within Wendy’s own personal assets
Now let me ask you a question! Why are you asking questions on F4 when I normally associate mileyshanna with P7?
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