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Fact pattern (B)
Tarpin Limited is a clothing manufacturer and a 100%-owned subsidiary company of TC Group Limited. Tarpin goes into liquidation. The liquidator investigates the company’s transactions in the period before liquidation and notices that the company has transferred to TC two industrial weaving machines. Consider your advice on the following issues.
Tarpin Limited is a clothing manufacturer and a 100%-owned subsidiary company of TC Group Limited. Tarpin goes into liquidation. The liquidator investigates the company’s transactions in the period before liquidation and notices that the company has transferred to TC two industrial weaving machines.