Author: MyLegalWeb

A company consists of two main components, namely the members and the board of directors (“BOD”). The former has certain rights they can exercise while the latter is in charge of managing the business and affairs of the company. Certain…

Judicial Management (“JM”) is a temporary court-supervised rehabilitation plan introduced through the Companies Act 2016 (“CA”) to assist financially distressed companies by providing an opportunity to rehabilitate and restore themselves back to profitability. Basis of Application Under s404 CA, an…

Corporate Voluntary Arrangement (“CVA”) is modelled after the English Insolvency Act 1986. It provides short term protection to a company against legal action form creditors while the directors manage the company. This procedure is designed to be expeditious with minimal…

Corporate rescue procedures provide an alternative to the immediate liquidation of the ailing company, seeking to provide companies in financial difficulty with a period of respite in which compromises and rescue arrangements can be made. Companies facing financial difficulties have…

Introduction Company meetings are where resolutions are passed and where decisions regarding the companies’ management, administration and business direction directions are made. According to Sharp v Dawes, a meeting is a coming together of more than 1 person. As such,…