A company's articles of association may provide that the management board must act in accordance with the instructions of another body of the company, for example the general meeting of shareholders. The management board is obliged to follow those instructions unless they are contrary to the interests of the company and its affiliated ...
power of instruction and liability of shareholders Read More »
The duty of the supervisory board is to supervise the policies of the management board and the general affairs of the company and its affiliated enterprise. It shall assist the management board with advice. In discharging their role, the supervisory board members shall be guided by the interests of the ...
There are many different forms of liability of directors. A distinction can be made between internal liability, liability in case of bankruptcy and liability towards third parties. internal liability Internal liability means the liability of a director towards the legal entity or (in bankruptcy) the bankruptcy trustee. The most common form of internal liability is liability based on improper ...
9 practical tips to avoid liability of directors Read More »
The WHOA offers entrepreneurs the opportunity to restructure their debts outside bankruptcy by offering a deed of arrangement. By homologating or approving the deed of arrangement, all creditors and shareholders involved in the deed of arrangement are bound by it, even those who have not consented to the deed of arrangement. Read the step-by-step plan here: "the WHOA proceedings explained in ...
The INSOLAD Rules of Practice for Bankruptcy Trustees set out general principles that guide the actions of the bankruptcy trustee. The bankruptcy trustee: is independent and has integrity; be guided by the interests of the estate and take into account interests of a social nature; strives for objectivity in his judgment; performs his work carefully, competently, energetically and efficiently ...
The task of the bankruptcy trustee is set out in article 68 paragraph 1 FW: "The liquidator is in charge of the administration and liquidation of the bankruptcy estate." According to paragraph 2 of this article, the bankruptcy trustee does so under the supervision of a supervisory judge. The bankruptcy trustee performs his duties primarily for the benefit of the ...
The survey procedure before the Enterprise Chamber of the Amsterdam Court of Appeal is a practical tool in resolving corporate law disputes between shareholders, directors and / or supervisory directors. At the request of a person entitled to an inquiry, the Enterprise Chamber can order an investigation into the policy and course of affairs within a legal entity, if there are well-founded reasons to ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss the right of reclamation. The right of reclamation is a legal right to reclaim a movable, non-registered property from the ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss the reserved pledge. The reserved pledge does not arise automatically, but must be expressly stipulated, which also applies ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss retention of title. Retention of title does not arise automatically but must be expressly stipulated, which also applies to a ...
