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Ashorn Ashorn
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7 years ago
John and George are the shareholders of a private provincial company, which has capital assets of $250 000.00. Lately, due to the recession, the company has not been doing well financially, but it is going to issue dividends of $50 000.00 each to John and George. A few days later the company declares bankruptcy. In this case the creditors of the company
a. can recover the value of the dividends from John and George as shareholders.
b. can look to the assets of the company.
c. can recover the value of the dividends from John and George as directors.
d. can look to the assets of the company and receive the value of the dividends issued to John and George.
e. all of the above
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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AlexStanfordAlexStanford
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Ashorn Author
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7 years ago
You make an excellent tutor!
sudenzia
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Yesterday
Smart ... Thanks!
bkrandy
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2 hours ago
This helped my grade so much Perfect
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