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5 days ago · In certain circumstances, a holding company may be liable for debts incurred by a subsidiary company when the subsidiary company could not pay its debts. If the directors of the holding company were aware of, or should have been aware of, the insolvency, then the holding company may be liable for the debt. In those circumstances, a liquidator ...
5 days ago · A subsidiary is a separate entity with its own legal identity. It can enter into contracts, own assets, incur liabilities and employ staff. Both a branch and a division are part of a company and are not separate entities. Usually, a branch runs part of a business in a different location to the rest of the company.
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5 days ago · An ultimate holding company structure is a company that is formed with the specific purpose of acquiring and holding shares in other subsidiary companies. The holding company has control over these other subsidiaries. While the subsidiary companies are responsible for running day-to-day operations, the ultimate holding company manages the ...
2 days ago · a company acquiring its shares by way of surrender pursuant to section 59(1A) BCA. In the corporate reorganisation and solvent reorganisation context, a transfer of shares of a subsidiary or of assets of that subsidiary to a BVI incorporated parent’s shareholders would classify as a distribution.
5 days ago · A holding company is an entity that owns a significant portion of the shares or voting rights in other companies. It typically holds controlling interest (usually more than 50%) in its subsidiaries. A subsidiary company is a separate legal entity that is controlled by another company, known as the parent or holding company. The parent company ...
4 days ago · Under IFRS 5, a non-current asset or a disposal group is classified as ‘held for sale’ if its carrying amount will be recovered primarily through sale instead of continuing use. This classification arises when the following conditions (outlined in IFRS 5.6-7) are satisfied: The asset or disposal group is ready for immediate sale in its ...
3 days ago · Vicarious liability is a situation in which one party is held partly responsible for the unlawful actions of a third party. The third party also carries his or her own share of the liability ...
