Alex is the accounting and finance director of Brisk Co. Ltd ('Brisk'), a private limited company in Hong Kong. He is also the financial controller of the company. Brisk trades in expensive racing cars. Three months ago, Alex won a lottery of HK$1 million and after that, he had not attended any board meetings of Brisk. Charles is the public relation manager of Brisk. Before joining Brisk, he was a driver of racing cars and took part in many racing competitions, including those in Macau and Monte Carlos. Alex had delegated all his duties to Charles, who had never had any proper training in accounting, finance and financial control. Charles can hardly distinguish between 'debit' and 'credit' in a balance sheet. Alex had not supervised Charles at all. Whenever he met Charles, he only told Charles, 'I know you are OK. Ain't you?' Before Charles could answer him, Alex disappeared. Brisk is in need of money. Alex asks his friend David for help. Question 1 (50 marks) What is wrong with Alex pursuant to the Hong Kong Company Law? Question 2 (50 marks) Give David a detailed analysis of the options available and recommendations based on the Hong Kong Company?

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Question 1 What is wrong with Alex pursuant to the Hong Kong Company Law In this scenario Alex as the accounting and finance director of Brisk Co Ltd ... View the full answer