Insolvency and Final Exam

- Complete all of the details required on the front page of the examination booklet. - Make sure that you note the SIX(6) questions attempted on the front of your examination booklet - If Seven questions are attempted, the first SIX(6) will be marked. - You may use a non-programmable calculator - Graph paper will be provided. - Answers are to be written in ink. Pencils are permitted for graphing purposes. - The

D) Can a shareholder bring a personal action, and against whom – the company or the director- based on the facts of the question? Do you think there are grounds for a shareholder to bring derivative action? What remedies can be obtained both for personal and derivative action? (6+6+3=15 marks)

The exams will cover both lecture and textbook material. The purpose of the lectures is to

(1) At any meeting held for the election of directors the stockholders are so divided that they have failed to

The client (Sam) plans to organize a company “Newco” and have significantly more shares than the other two shareholders (Jason and Lucy). He will be one of the three directors of the corporations. Other two minority shareholders control the board of directors will also be officers.

To earn full credit your response to each essay question should answer the question completely and average 2 – 3 paragraphs in length. The exam reflects the following course objectives and possible topics:

1) The examination is intended to test your knowledge of the topic covered in chapters 9 through 12 of the course text.

If after reviewing this material there is any doubt about assessment requirements then in the first instance the student should consult with the Course Coordinator and then if necessary with the Director – Undergraduate Teaching and Learning Committee.

In many misfeasance cases against directors, those breaches maybe relatively uncontroversial. This draws into focus the question of whether the director has any common law or statutory defence, including the Duomatic principle and ratification by shareholders (CA 2006 S.239), available to a claim against him for restitution to the company. S.239(6)(a) preserves the Duomatic rule that if an informal unanimous consent is reached among voting shareholders, it is unnecessary to pass such ratification resolution through general meeting or written resolution. The first part will examine the scope and requirements of this rule to illustrate the validity of such assent. S.239(7) leaves the door open for rules of law, which refers to common law principles, to continue guiding ratification. It will be assessed how these rules impose limitations on the general ratification power conferred by s.239.

Exam will be over all material covered in class to date. This includes both material covered in class and material covered in the text book or on MyMarketingLab.

8. Some of the key study areas are as follows: (while these are key areas remember that the exam is comprehensive for all the assigned course content and this study guide may not be all inclusive.

d) The Executive Committee shall be elected from and by the Board members of the

This exam is take-home, open-book, which means that you are allowed to use the BKM textbook and all the materials that are

I encourage each department head to take ownership of their position while simultaneously promoting an open door policy where they know I am always available to assist them.

B. The audit committee of the board of directors of a company must hire, compensate, and terminate the public