Oct 24, 2024
A demerger is often used to prepare for a change of ownership by separating the part of the business that is to be transferred to the new owner. You should allow about six months for the division to take place, as the time required for publication in the Commercial Register is more than three years...
Oct 24, 2024
The right to enter into a binding contract with a company is based either on a legal right of representation or on a given power of attorney. The right of a statutory representative, such as a managing director or board member, to enter into contracts on behalf of the company is directly based on his or her position...
Oct 22, 2024
In principle, a contract is only concluded between the parties when there is a positive response to the offer. If no agreement can be reached, the contract negotiations will be terminated without result. It follows from this principle of contract law that...
Oct 17, 2024
The CEO is not an employee of the company and the Employment Contracts Act does not apply to the CEO. The managing director of a limited company is the governing body of the company in the same way as the board of directors and the general meeting. The managing director does not therefore have an employment relationship with the company. The status of the CEO is...
Oct 17, 2024
When a company gets into financial difficulties for one reason or another, one of the options, and usually the last one, is to go into liquidation. In our view, restructuring is a good way to restore the viability of a company and the interests of the company and its owners....
Oct 14, 2024
What risks does a board member of a limited company in financial difficulties face and how can they be protected against or prepared for? Board membership in a limited company is no longer a mere position of trust. It includes statutory duties and responsibilities...
