How trustee in bankruptcy recover from alexander


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Q: The Hyperion Company has an authorized capital stock of one thousand shares with a par value of $100 per share, of which nine hundred shares, all fully paid, were outstanding. Having an ample surplus, the Hyperion Company purchased from its shareholders one hundred shares at par. Subsequently, the Hyperion Company, needing additional working capital, issued two hundred shares to Alexander at $80 per share. Two years later, the Hyperion Company was forced into bankruptcy. How much, if any, may the trustee in bankruptcy recover from Alexander?

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