These Law Offices provide a full range of services in this area extending the whole gamut from formation and corporate secretarial services to liquidation.
We have been involved in guiding the only two privatisations of state owned corporations which have ended up in Stock Exchange listings.
We have also paid special attention over the past decade to the rights of minority shareholders and the liabilities and duties of company directors both under the old company law as well as under the new Companies Act 1995.
Over the past 15 years we have been involved in a number of landmark decisions in the area of corporate insolvency which are set out hereunder.
Cases of Interest
(Landmark decision on fiduciary duties of directors and their potential liability for the debts of an insolvency company on the ground of fraudulent trading)
(Relevant considerations in restraining a Receiver appointed by debenture holders)
(Circumstances relating to the validity of the appointment of a Receiver)
(Winding-up petition against insurance company on the ground of change of business practices)
Since the Companies Act came into force in April 1997 we have advised extensively on its application both locally and regionally. Our regional involvement arises from the fact that most Commonwealth Caribbean countries now have the same legislation.
We have been involved in almost all the cases on shareholder remedies under section 242 and instituted the first action under the new Act in 1997.
Cases of Interest
(Minority shareholder seeking relief against majority in relation to oppressive conduct)
(Minority shareholder seeking relief under the oppression remedy)
(Majority shareholder challenging conduct of Chairman in appointing co-directors)
(Dismissed CEO seeking relief against company under the oppression remedy)
(Deposed Chairman seeking relief against company controlled by outsider in respect of ouster and taking over of company’s operations)
(Claim by customer of oppression by a telecommunications company for wrongful disconnection and delayed reconnection and repudiation of settlement arrangements; Court made landmark order for interim costs to be paid by the company to complainant to pay attorneys to pursue claim)
(Claim for oppression by an unpaid supplier of fuel as creditor against a “shell” company and its principal shareholders who purchased aviation fuel without paying for same in full; Claim settled by the payment of substantial portion of the outstanding debt) (Claim by majority shareholder against a minority shareholder who exercised de facto control by virtue of an Operating Agreement in an oppressive fashion; interim order made for delivery of equipment and documentation held by the minority shareholder) (Claim by trustees of a block of shares to set aside a merger agreement between 2 life insurance companies as being unfairly prejudicial to the rights of the policyholders of Demerara Life; Interim relief granted to reinstate directors who had been removed from office.) Pending (Claim by shareholder in respect of his exclusion from participation in the management of the company which he helped establish as a partner and the withholding of financial information; Court made order for interim costs to be paid by the company to the Claimant’s attorneys) (Claim by shareholder and director of family company in respect of oppressive conduct in failing to register his shareholding, excluding him from the company’s management by removing him as a director and failure to disclose financial information) Pending
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