The High Court has held that where companies have adopted the model articles without amendment, any sole director acting has the power to pass resolutions acting alone.
Before October 3, 2022, the rules of procedure in the Saskatchewan Court of Appeal (unlike those in most other appeal courts in Canada) imposed a stay of proceedings in most cases as soon as a Notice of Appeal was served and filed. That has now changed.
Robert Chan, instructed by Leon Lai & Co, represented D2-Leung Yung (“Leung”), the former Chief Executive Officer of Peace Mark (Holdings) Ltd, to resist the Plaintiffs’ application to amend their claim to include a plea of wilful default or wilful negligence.
El Tribunal Supremo confirma la negativa del Registrador Mercantil a inscribir la renuncia del administrador único por no atender la solicitud de presencia de un notario en la junta general en la que se nombra al nuevo administrador, realizada por un socio con posterioridad a la renuncia del administrador, pero antes de la celebración de la junta.
2 | Referencias Jurídicas CMS | Septiembre 2022
Referencias Jurídicas CMS
Post jurídicos
The U.S. Cannabis industry stands on the cusp of springing forth as a fully formed industry once certain legislative hurdles are overcome. As one of the first major U.S.-based business advisory firms to establish a cannabis-specific practice, the FTI Consulting team understands the unique challenges of the cannabis industry from local, national and global perspectives.
The 5 (five) judge bench of the National Company Law Appellate Tribunal (“NCLAT”) has recently decided the long- standing issue of whether re-presentation of appeal constitutes a fresh filing before the NCLAT and its implication on the period of limitation. The NCLAT has held, inter alia, that ‘re-filing’ an appeal (after curing defects) beyond the prescribed 7 (seven) days period will not amount to a ‘fresh filing’ for the purposes of the limitation.
Facts
The Department of Telecommunications (DoT) has on 21 September 2022 released the Indian Telecommunication Bill, 2022 (Bill) which consolidates and amends the Indian Telegraph Act 1885, Indian Wireless Telegraphy Act 1933, and The Telegraph Wires, (Unlawful Protection) Act 1950. In Chapter 5 (Restructuring, Defaults in Payment and Insolvency), the Bill addresses situations wherein payment defaults or insolvency proceedings have been initiated against a telecommunication company (Telco or Corporate Debtor).
T W Timber Treatment Pty Ltd v Giddings [2022] VSCA 147
The Victorian Court of Appeal has re-affirmed that a director’s signature can indicate an intention to personally guarantee a company’s obligations, even where that signature is qualified and accompanied by contrary indications in the signed document.
The Court also confirmed that a creditor’s rights under a director’s guarantee, including a right to interest, are not affected by a Deed of Company Arrangement (DOCA).
Background
The process of bankruptcy or insolvency may involve a company selling business assets in order to pay creditors or simply to remain financially liable. In some cases, this may include selling distressed assets. This article explains what a distressed asset is, how to deal with such an asset, and what may be the ramifications of engaging in this process.
What is a distressed asset?
The U.S. is one of the easiest jurisdictions in the world in which to do business. Regulatory barriers are generally low, establishing a branch or business entity is quick and easy, labor and employment laws are much more employer-friendly than in most other developed economies, and the legal system is well-developed and transparent. However, there are certain barriers to entry and challenges to doing business that should be taken into account before investing or establishing operations in the U.S.