Winding Up for Company
TABLE OF CONTENT
Title Page
Scenario of the Case of ABC Bhd 1
Acknowledgement 2
Findings
Misstated Amount Due in Statutory Demand 3-5
Number of Members is Reduce Lower than Two 6-8
Voluntary Winding Up 9-10
Compulsory Winding Up 11-12
SCENARIO
Anggun, Bromley and Chumbee and some friends have set up a business known as ABC Bhd which dealt with coffee drinks. Within five years of the incorporation of ABC Bhd, the company is making lots of profits. At the same time the company had obtained a loan amounted to RM 500,000 from Bank Aku Bhd in order to expand their business.
However, in the ten years of operation, due to high competition in the business market, their business getting slow and the company failed to make profits. Meanwhile, Bank Aku Bhd had sent a statutory demand to ABC Bhd claiming for the sum due amounted to RM 300,000. However, the amount of debts stated in the statutory demand was RM 300,050.
The dispute then arose between the shareholders of a company. They tried to blame each other for causing losses to the company. The dispute came worst when 12 of the shareholders left the company and the company now only has 1 shareholder who is Anggun. The shareholder then continues with the business although the number of the shareholders is reduced below two.
Due to the problems, Anggun now intent to dissolve the business since she thinks that the company can settle the debts within 12 months.
At the same time, Bank Aku also want to take legal action to the company by applying to the court to dissolve the company.
ACKNOWLEDGEMENT
Bismillahirrahmanirahim.
Assalamualaikum W.B.T.
Firstly, by the grace of Al Mighty Allah, we
Title Page
Scenario of the Case of ABC Bhd 1
Acknowledgement 2
Findings
Misstated Amount Due in Statutory Demand 3-5
Number of Members is Reduce Lower than Two 6-8
Voluntary Winding Up 9-10
Compulsory Winding Up 11-12
SCENARIO
Anggun, Bromley and Chumbee and some friends have set up a business known as ABC Bhd which dealt with coffee drinks. Within five years of the incorporation of ABC Bhd, the company is making lots of profits. At the same time the company had obtained a loan amounted to RM 500,000 from Bank Aku Bhd in order to expand their business.
However, in the ten years of operation, due to high competition in the business market, their business getting slow and the company failed to make profits. Meanwhile, Bank Aku Bhd had sent a statutory demand to ABC Bhd claiming for the sum due amounted to RM 300,000. However, the amount of debts stated in the statutory demand was RM 300,050.
The dispute then arose between the shareholders of a company. They tried to blame each other for causing losses to the company. The dispute came worst when 12 of the shareholders left the company and the company now only has 1 shareholder who is Anggun. The shareholder then continues with the business although the number of the shareholders is reduced below two.
Due to the problems, Anggun now intent to dissolve the business since she thinks that the company can settle the debts within 12 months.
At the same time, Bank Aku also want to take legal action to the company by applying to the court to dissolve the company.
ACKNOWLEDGEMENT
Bismillahirrahmanirahim.
Assalamualaikum W.B.T.
Firstly, by the grace of Al Mighty Allah, we