Tennis Corp. has three shareholders: Ms. Serve owns 500 shares, Mr. Net owns 250 shares, and Ms. Racket owns 250 shares. Tennis Corp. recently dissolved and distributed a total of $100,000 to its shareholders. However, the board of directors did not pay or take any steps to bar a $10,000 claim held by Joe Creditor.

 Assuming that Joe does not attempt to sue the directors, may Joe recover his claim from the share-holders?Explain

Answer rating: 100% (QA)

In this scenario Joe Creditor might be able to recover his claim from the shareholders Since th... View the full answer