Hello evryone, I'm marjurie.. I have a subject called corporate law and I have a presentation on the 27th of February about the case of lee v lee's air farming. I'm hoping for your kind response to this.. thank you..

Case study`s are basically stupid real life stories relating to companies ,people , government & courts mostly.

In this case SOLOMAN vs SOLOMAN...

SOLOMAN WAS A MAN WHO HAD A `SHOE` BUSINESS . He saw the rising profits of his business... and.. desided to start a company.

He had 30000pounds with him , of which he took 10000shares and 10000debentures.. [approx]

His company suddenly went into liquidation[loss]

He had 17000 to be paid to his creditors.. but soloman had only 6000 with him .

He took the money for himself..

The creditors went to the court and lodged a complaint.

THE COURT SAID THAT SOLOMAN DESERVES THE MONEY CAUSE HE IS A SEQURED CREDITOR.[debenture holder are sequred creditors]

The holding in lee v lee upholds that in saloman v saloman that a company is a separate legal entity from its shareholders and workers.mr lee was a manager and in another capacity acted as a pilot of the company.Mrs lee could recover after mr lee s death for this reason