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What I did say was that in practice it needs a wounded shareholder to file a complaint.
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What if the other shareholder is your partner and you break up with them still owing them dividends and you can't pay them when they depart because you've taken all the company monies as a loan? I'm sure that situation must be fairly common and its worth making people aware that they may get a criminal record because of it.
I wonder what impact the ML regs will have on this? Its seems to me that any professional advisor should tell NCIS about an overdrawn loan account. What do you think ABS?