Company / Corporate / Compliance

Article courtesy of Law Dot News | Personal Liability for Corporate Debts Prescription, Procrastination, and Personal Liability for Corporate Debts “I have heard that in war, haste can be folly, but have never seen delay that was wise.” (Sun Tzu, The Art of War) Collecting debt from a recalcitrant debtor can feel very much like going to war, particularly ifRead more

“Diplomats operate through deadlock, which is the way by which two sides can test each other’s determination.” (Henry Kissinger) Running a business with a partner can work brilliantly – until it doesn’t. When co-directors or shareholders fall out and can no longer see eye to eye, the company can grind to a halt, meaning everyone loses.  If the “deadlock” is

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“To be prepared is half the victory.” (Miguel de Cervantes, author of Don Quixote) Perhaps you’re a director losing sleep over the risk of losing everything if creditors sue you personally for your company’s debts because you’re asset-rich, and they can’t squeeze anything out of the company. Or maybe you worry about the company itself suing you for losses it

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Article courtesy of Law Dot News | Debit Recovery Debit Recovery - Now Creditors Can Apply for Directors to be Declared Delinquent “He who is quick to borrow is slow to pay” (Old proverb) Debit Recovery - A recent High Court decision means that, for the first time, creditors of debtor companies are specifically cleared to apply for the company’sRead more

Article courtesy of Law Dot News | Shareholders Agreement Why You Need a Shareholders’ Agreement, and How to Structure It Whether you are forming a new company or buying shares in an existing one, a formal shareholders’ agreement, tailored to suit your particular situation and needs, is essential. What is a shareholders’ agreement? It’s a contract between shareholders outlining theRead more

Article courtesy of Law Dot News | Business Law - Company / Corporate Compliance Directors – When Are They Personally Liable? “… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly, grossly negligently or fraudulently. If they do, they risk being made personally liable.” (QuotedRead more

“All is fair in love and war…and business is war.” (Jasmine Kundra) When company directors are locked in dispute, one of them may be tempted to cut off the other’s access to emails and to the business server – a tactic likely to have immediate and serious consequences for the director thus cut off. Its appeal as a tactic to

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Article courtesy of Law Dot News | Sexual Harassment A Victim of Sexual Harassment Must Report It “Immediately” “…sexual harassment is a heinous and horrendous conduct since it undermines the dignity of women and the values enshrined in our Constitution.” (Extract from judgment below) Employers have a strong duty to provide a safe workplace for their employees, and to protectRead more

Article courtesy of Law Dot News | Business Law | Corporate Compliance “Creditors have better memories than debtors” (Benjamin Franklin) In these hard times of pandemic and economically destructive unrest, an unfortunate number of businesses face collapse, and many will opt for the “first aid for companies” option of business rescue. Creditors coming out of that process with a shortfallRead more

Article courtesy of Law Dot News - Business Law Companies: Are Restraints of Trade Valid in a Time of Covid? “For him to be forced out of a career of choice to start working in a different field at a time when many businesses are closing down, retrenchments and lay-offs being commonplace and individual[s] doing everything possible to survive andRead more