ISSUE:
Whether Mr Macaura has an insurance interest?
RULE:
The corporator even if he holds all the shares is not the corporation, neither he nor any creditor of the company has any property legal or equitable in the assets of the corporation.
Whether Mr Macaura has an insurance interest?
The corporator even if he holds all the shares is not the corporation, neither he nor any creditor of the company has any property legal or equitable in the assets of the corporation.