(I) Introduction
The term “corporate governance” has been typically described, in the world, as a set of rules and proceedings approved in order to enhance the efficiency of companies by better controlling administration and management. Within its scope, are embraced not only factors connected with the activity of corporate officers but also the ones involving shareholders. (more…)
In the current economic situation, when increasing number of companies suffer loss and are in financially challenging situation, the issue of actual management`s responsibility thereof has become more topical than ever. Accordingly this article will further evaluate to what extent the management can be held liable for the company`s business, the means of that, as well as possibility to limit such liability.
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Introduction
It is interesting to note that in any court case having a tangent shadow concerning corporate governance (CG), each party will assert its acts are just following the principles of CG so that it does not violate any applicable law. It is still more interesting to learn that although each party in a lot of such court cases alleges its compliance with the principles of CG, the various courts do not comment much on what CG means, which acts follow or violate principles of CG, how the spirits of CG could be presented, where the disputes over CG are, when CG shall be serious dealt with, whether a case is directed to a resolution of CG and/or whose assertion in respect of CG is viable. (more…)
Introduction
In Ukraine only joint stock companies issue shares as securities. Other companies (for instance, LLCs or PLCs) cannot issue shares as securities. On 29 April 2009 the new Joint Stock Companies Law came into force providing two types of joint stock companies in Ukraine: public (that can have their shares listed at stock exchange) and private (their shares cannot be listed).
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