Briyana and Ethan are the only directors and shareholders of Summer Wine Ltd, wh

Briyana and Ethan are the only directors and shareholders of Summer Wine Ltd, which specialises in the production of wine. Summer Wine Ltd was incorporated five (5) years ago and adopted the Model Articles to which no amendments have been made.
Summer Wine Ltd started to experience cash flow problems ten (10) months ago and continued to trade at a loss for another six (6) months. The company has just gone into a creditor’s voluntary liquidation (CVL). The company passed a special resolution that was advertised in the London Gazette and sent to Companies House. A liquidator has now been appointed.
Briyana and Ethan honestly believed that if the company could continue to trade for another year, it would be able to trade its way out of trouble due to a number of new wines becoming available which they believed would prove popular with customers. Briyana and Ethan did not seek any professional legal or financial advice at this time because they feared that they would be forced to close Summer Wine Ltd and not be given the opportunity to trade their way out of trouble. Instead, they decided to falsify the company’s accounts in order to show inflated profits so that their bank would provide Summer Wine Ltd with additional overdraft facilities.
During the six (6) month period, the company incurred an additional loss of £250,000. In addition, three (3) months ago, Briyana and Ethan sold the company’s delivery van to family members for £2,000 in order to raise additional funds. The delivery van was in fact worth £8,000.
Advise the liquidator of Summer Wine Ltd in relation to Briyana and Ethan’s actions together with any potential liability.
Submission Instructions
• The word count for this assessment is 3,500 words. If you exceed the word count by more than 10%, then your assignment grade will be reduced by 10% grade points.
• Submission should demonstrate Critical Thinking and Analysis to meet the assignment’s Grading Criteria. Please understand and apply the requirements of critical thinking before you submit.
• Use Oscola citation.
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I have uploaded the Assignment Topic file, a useful information file, from this file you can use this information for the assignment if you like. Attached Unit 16- Unit 18 file reading, these units have information related to the assignment. I have also attached Unit 1-15 just in case if you want to read them. Please write a good paper, as I didn’t do well in the previous paper and on the borderline of passing the course. This assignment has more weight than others so this is more important than the other. Thank you.