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Explain to the shareholder the meaning of the statement

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Question - A shareholder of a company in liquidation was told 'Creditors are to be paid in full but there is insufficient funds to pay out all contributories.'. The shareholder is unsure of what this means and asks your advice.

Required - Explain to the shareholder the meaning of the above statement. Your explanation will include a discussion of the principles to be followed in apportioning a deficiency among contributories.

Reference no: EM132750625

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