scenario:
Person A and Person B are directors of their company.
Person A loans 100k to the company.
The company ceases trading and the debt is never repaid to Person A. Person A retires. Person B does not.
The company entity is kept alive.
Can Person B purchase the company’s debt to Person A from Person A at a discount?
Eg. Person B pays Person A $10k so that Person A recovers 10% of the initial loan, and the company now owes Person B the $100k.
Is this possible?