Two years later hyperion company was forced into bankruptcy


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, Hyperion Company purchased from its shareholders one hundred shares at par.

Subsequently, Hyperion, needing additional working capital, issued the two hundred shares in question to Alexander at $80 per share.

Two years later, Hyperion Company was forced into bankruptcy. How much, if any, may the trustee in bankruptcy recover from Alexander?

Request for Solution File

Ask an Expert for Answer!!
Business Law and Ethics: Two years later hyperion company was forced into bankruptcy
Reference No:- TGS02186211

Expected delivery within 24 Hours