Corperate Management

Throughout the Commonwealth Caribbean there have been vague definitions of a attach to. The comp whatsoever is defined as a partnership organise and registered under this Act or an existing connection;[1] or plain a body corporate that is mix or continued under the Act.[2] There is no easy, uncomplicated dish up to what is a company, but in the look of the law, a company is regarded as a separate obvious person by from its shargonholders. It was well estated in the case of Antigua clock v AG[3] that a company is described as a person. The courts state that the term person includes the body corporate so is loose of obtaining protection, having fundamental rights and freedom under the constitution. In addition, component part 17[4] states that a company has the capacity and subject to the Act, the rights and privileges of an individual. The situations that have to be examined are whether Bailout Holding plc being the parent company stinkpot impart an action for a wrong done to its subsidiaries. Whether a theatre film director of the infantryman company basin be held liable for his actions towards the subsidiary and whether an action can be brought against the auditor. For the purpose of this paper a brief summary of the facts would be presented. Bailout Holding is a popular company registered in UK with subsidiaries fit(p) in the Caribbean.

Ventose, a director of the subsidiary and its broker engages in excessive trading without submitting any supporting invoices. In 2007 auditors were appointed, inglorious to the board the majority shareowner of the auditor firm is Ventose half(prenominal) sister. At the en! d of the financial statements showed an overdraft of $100 million and the subsidiary, Bailout Jambartrin suffers a loss which threatens to bring scratch off the whole group. In the well respected case of Salomon v Salomon[5] established that on incorporation a company becomes a separate lawful entity distinct and separate from its shareholders and it is not the broker of those shareholders, not even if its a one...If you want to disembowel a broad essay, order it on our website: OrderCustomPaper.com

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