ymex Corporation is engaged in the business of manufacturing and selling pens and pencils on wholesale basis. It is merely renting a bodega and 90% of its assets consists of its stocks of pens and pencils. Cid Books Store, a school supply dealer, purchased all the stocks of Zymex Corporation. Is the transaction a sale of substantially all of the assets of the corporation requiring concurrence of stockholders representing 2/3 of the outstanding capital stock?

ymex Corporation is engaged in the business of manufacturing and selling pens and pencils on wholesale basis. It is merely renting a bodega and 90% of its assets consists of its stocks of pens and pencils. Cid Books Store, a school supply dealer, purchased all the stocks of Zymex Corporation. Is the transaction a sale of substantially all of the assets of the corporation requiring concurrence of stockholders representing 2/3 of the outstanding capital stock?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 36P

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