Explain the Winding Up of a Company A company is a separate legal entity created by law, enjoying rights and obligations distinct from its members. […]
Tag: Liquidation
14. A company was authorised by its Articles to purchase its own shares. W sold his shares to the company and before the price was paid, the company went into liquidation. Is W entitled to prove in the liquidation for the price of the shares.
Facts of the Case A company, authorised under its Articles of Association to purchase its own shares, agreed to buy shares from a shareholder, W. […]