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Unpaid shares...Hotting up !

blackdog

By blackdog
in Port Vale past

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robf Veteran

robf

Posted
Posted
Now that all shareholders have got Deakin's address, can I assume that he will get 900 pieces of mail this morning?

 

Warning: moderately offensive language

 

I was thinking of sending a postcard. What about this design?

 

[ATTACH=CONFIG]3378[/ATTACH]

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JOHNNYAITCH Newbie

JOHNNYAITCH

Posted
Posted

Does it go to creditors? Not sure

 

I also had a thought last night that even if someone "buys into" q company thru nil-paid sdhares they are still surely responsible for any liabilities? Those who did pay for shares lose their money as it goes to creditors are not those with nil-paid shares equally liable?

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fairportnick Newbie

fairportnick

Posted
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The liquidators would recover the money on behalf of creditors and it would be distributed in the order of preference used in any liquidation. As the creditors reportedly got 3 % , the preferentials must already have been paid in full, therefore it would first be applied to the remaining 97 % liability. In the unlikely event of anything being left the shareholders get the last dib. Of course as the unpaid shares would be now paid shares they would rank alongside the other shareholders.

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JOHNNYAITCH Newbie

JOHNNYAITCH

Posted
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http://www.informdirect.co.uk/shares/what-are-unpaid-shares/

 

"In contrast, with unpaid shares none of the value of the shares is paid into a nominal account at the point the shares are issued, although the shareholder retains the liability to pay at a later date."

 

It isn't necesarily mandatory to have to pay for the nil-paid shares but surely the liquidators will have determined if this is the case or not before pursuing this

 

I find all this fascinating

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