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Consequences for the directors of jv mine

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Reference no: EM133247355

JV Mine is in some financial difficulty as a result of the problems at its copper mine. Nevertheless the two shareholders, GML and QMNE are hoping to receive a dividend. Although JV Mine did not make a profit in the financial year, its directors decide to pay a dividend of $0.04 per share.

Is this allowed? If the payment of the dividend causes JV Mine to become insolvent, what are the consequences for the directors of JV Mine?

Reference no: EM133247355

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