YOUR PERFECT LEGAL COMPANION
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,…
According to s2(1) of the Companies Act 2016 (“CA”), a member is a person whose name is entered in the register of members as the holder for the time being of one or more shares in the company in the…
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Where a minority shareholder is aggrieved by a majority shareholder’s actions, the filing of an oppression action may seem like the immediate and natural port of call. This may be for a few reasons, where the minority shareholder would primarily…
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The first and most basic question is, what are preference shares? Preference shares, more commonly referred to as preferred stock, are shares of a company’s stock with dividends that are paid out to shareholders before common stock dividends are issued.…
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