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 16, 2024
Overtime is, in short, work that exceeds the maximum number of hours a worker is allowed to work. The general rule in the Working Time Act is that the normal working time is 8 hours per day and 40 hours per week. However, exceeding the regular working hours does not...
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...
Oct 14, 2024
Although the protection of trade secrets is defined in the Trade Secrets Act, the company itself must take active steps to protect trade secrets. The legal sanctions of reparation, injunction and damages are only available once the damage has already been done. At that stage,...
Oct 11, 2024
A shareholders' agreement is usually advisable when there is more than one shareholder in a limited company. The provisions of the Companies Act and the Articles of Association are usually not sufficient to cover or regulate the relationship between the company and its shareholders or the...
