Hi, I need some help with a scenario problem:

XYZ Ltd' issued capital consists of 5 000 fully paid ordinary shares, which were issued at $ 2 when the company was formed in 2010, as well as 5 000 fully paid 5% cumulative preference shares issued in 2015 at $5 each. The company has never declared dividends. In order to raise more capital, the board decides to issue a further 2000 cumulative preference shares.

The assets of ABC Ltd exceed its liabilities by $100, 000 in the current year and the directors wish to declare the entire amount as a dividend to shareholders. One of the company's creditors is concerned that the company will become insolvent if the $100,000 dividend is paid.

1)What, if anything, can the creditor do in regard to this?

2)Can ABC directors revoke the dividend once it has been declared?

What are the relevant facts in the scenario and corresponding law that applies that could help answer the 2 questions above?