Z Corp issued illegal dividends to its shareholders on June 1. The Board of Directors voted unanimously

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Z Corp issued illegal dividends to its shareholders on June 1. The Board of Directors voted unanimously to issue the dividends based upon financial statements that showed that Z Corp had a large surplus. This was an error. It actually had a deficit. The dividend rendered Z Corp insolvent. Z Corp was unable to pay its rent to Landlord. Who can Landlord sue to recover the rent? What is the basis of the lawsuit

Posted Date: May 18, 2024 07:00 PM

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Z Corp issued illegal dividends to its shareholders on June 1. The Board of Directors voted unanimously

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