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Three years ago Ho subscribed for shares in two companies: Ice Ltd and Jet plc. In relation to the shares in Ice Ltd, Ho was only required to pay 50 pence per £1 share when he took the shares and was assured that
he would not be required to make any further payment on them to Ice Ltd and the company passed a resolution to that effect. Unfortunately, Ice Ltd has gone into insolvent liquidation owing a substantial sum of
money to its creditors. In relation to the shares in Jet plc, Ho was required to pay a premium of 50 pence per £1 share. The shares
are currently trading at 75 pence per share.1)Sir does Ho has any potential liability with regard to the shares he holds in Ice Ltd ?
2)Can Ho gain access to the premium paid on the shares in Jet plc?
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