In January this year, April, May and June borrowed $500,000

In January this year, April, May and June borrowed $500,000 from ABC Bank to set up a company, Brides Mades. This company provided bridal services to wedding couples. All three were directors and shareholders of the company, which also hired three staff to help run the business.

In March, all businesses in Singapore were drastically affected when the government announced a two-month lock-down of the city state due to the Covid-19 pandemic. Even after two months, businesses were gradually reopened by sectors. Bridal and wedding services were considered “non-essential” business activities, and were therefore the last to be opened. By that time, Brides Mades was on the verge of collapse with no business being done for several months. April, May and June have informed ABC Bank of the financial difficulties the company is facing, and the bank is now considering legal action to get back its loan.

Explain if ABC Bank would be able to hold the directors, shareholders, and/or staff liable for the $500,000 loan.

 

Stressed over that homework?

Essay deadline breathing down your neck?

Let’s cut to the chase: Why struggle when you can ace it with zero hassle?

Whether it’s essays, research papers, or assignments — we’ve got you covered.

✅ Expert writers
✅ 100% original work
✅ No AI tools, just real pros

Stressed about your essay or homework? Get a top-quality custom essay NOW!!! Stop worrying. Start succeeding.

GradeEssays.com
We are GradeEssays.com, the best college essay writing service. We offer educational and research assistance to assist our customers in managing their academic work. At GradeEssays.com, we promise quality and 100% original essays written from scratch.
Contact Us

Enjoy 24/7 customer support for any queries or concerns you have.

Phone: +1 213 3772458

Email: support@gradeessays.com

© 2020 -2025 GradeEssays.com. All rights reserved.

WE HAVE A GIFT FOR YOU!

15% OFF 🎁

Get 15% OFF on your order with us

Scroll to Top