Company Law
Overview
The article summarily reports Overseas Union Enterprise (OUE) selling 26.1 million shares belonging to shareholder United Overseas Bank (UOB) for $378.8 million and $282.1 million would be distributed to shareholders as special dividends. Although this is a short article, there are several points that we can highlight or bring to attention, including the law of separate entity and more importantly, the director's duties and whether there is any breach of these duties.
Separate Legal Entity
Firstly, we must recognize that OUE is a separate legal entity from its shareholders as per Cap 50 of Companies Act, which means that OUE is an artificial person created by the law and thus it has rights, obligations, liabilities, property and contracting powers all in its own name. We would not be looking at lifting the corporate veil in this case but acknowledging the fact that OUE is an artificial and separate entity in the eyes of the law would lay the foundations for our......
View the rest of this paper...
Approximate Word Count: 990
Approximate Pages: 4 (250 words per double-spaced page)
Why should you join Frat Files?
- - It's safe, secure, and private.
- - Instant access to over 100,000 papers. New papers are added hourly.
- - Fast and reliable customer support.
Similar Essays
-
Company Law
Company Law. AC208 Company Law Assignment Name : Wong Kai Jun Tutorial
Group : T14 Tutor : Assoc/P Gan Lay Hong, Pauline Company ... -
Company Law
Company Law. Overview The article summarily reports Overseas Union Enterprise
(OUE) selling 26.1 million shares belonging to shareholder ... -
Too Much Of British Company Law Frustrates, Inhibits, Restricts ...
Too much of British company law frustrates, inhibits, restricts and
undermines. It is over-cautious, placing too high a premium ... -
Company Law Essay
Company Law Essay. This question involves the rights and duties of the members
in their dealings with each other and with the company. ... -
The Veil Doctrine In Company Law
The Veil Doctrine In Company Law. I- The ... natural person. In different legal
systems, corporate law and company law mean the same thing. ...
Frat Files
Members
Information
© 2009 FratFiles.com.