Question: DKN, a limited liability company registered as such under the laws of Ghana, is into microfinance business. The company took the deposits of many investors, some of whom got their deposits from bank loans. Many others, including Nii, Ama and Fati invested large sums in DKN. DKN later ceased to be a going concern and liquidation proceedings initiated againstDKN, a limited liability company registered as such under the laws of Ghana, is into microfinance business. The company took the deposits of many investors, some of whom got their deposits from bank loans. Many others, including Nii, Ama and Fati invested large sums in DKN. DKN later ceased to be a going concern and liquidation proceedings initiated against it in accordance with law. The official liquidator who was appointed, took inventory of all the assets and liabilities of DKN. It was realized that the liabilities of DKN were far in excess of its assets. The CEO and sole shareholder of DKN, Egya Koo after the winding up of the company relocated to his hometown, Sunyani. Ama, who also happens to be a native of Sunyani upon visiting the town after several decades realizes that Egya Koo has put up many buildings in Sunyani. He is also driving in the latest Range Rover Evogue and has bought a brand new Mercedes Benz for his wife. She quickly informs Nii and Fati who have come to you for advice. They are insisting on recovering the cars and buildings owned by Egya Koo and to recover their deposits from him, considering how lavishly he is living. Are Nii and Fati likely to succeed in a legal action against the CEO of DKN in their quest to recover their deposits with DKN personally from him, and take away the cars and houses from him? Support your answer with decided cases. 100% (1 rating)Pvt ltd company- A private limited company is a corporate entity owned by private investors. In this situation, the liability arrangement is a limited partnership, in which a shareholder’s liability is restricted to the number of shares they own. A p…View the full answer
