Introduction “The 100 Club” – a content initiative of Cable News Network (CNN) takes a look at global and iconic brands that have survived and thrived for more than 100 years in business. So far, the production has covered some companies/brands that have survived the 100-year mark since their formation (incorporation) – Guinness, Coca-Cola, Gillette, […]

INTRODUCTION “Walmart leaps into TikTok acquisition fray, joining Microsoft’s bid” was The Washington Post’s 27th August 2020 online headline on news of the expression of interest by Walmart in TikTok. TikTok, the new sensational Chinese video-sharing social media application has been threatened with the United States (US) ban over security concerns following its current ownership, […]

Introduction Directors once duly appointed in compliance with the requirements or by operation of law, become “officers” clothed with powers to act on behalf of a company and to perform duties as may be permitted (or restricted) by the Companies Act, 2019 (Act 992) and/or by the Constitution of the Company – and may become […]

INTRODUCTION In June, it is estimated that three hundred thousand (300,000) companies and businesses risk deletion from the company/business registers. A B&FT news report of 19th March 2021 quoted the Registrar-General, Mrs. Jemima M. Oware as issuing a final public notice – “kindly note that if at the expiration of three months from the date […]

INTRODUCTION A company limited by shares construct produces an entity bestowed with legal personality, limited liability, transferability of shares, delegated management and investor ownership according to Reinier Kraakman. Globally, these distinct features backed by legislation and practice have become common features of such companies – and similarly, the Companies Act, 2019 (Act 992) recognises these […]

INTRODUCTION A company is a creation of a statute implying that its form, operation, and continued existence are prescriptions of law. All aspects of company formation and management are also regulated by law. However, the primary company law regulation – the Companies Act, 2019 (Act 992) has not definitively provided for how and in whose […]

INTRODUCTION With a public notice titled “All goods things must come to an end”, management announced that “Coco Lounge, Urban Grill and Carbon are closing their doors for the last time as of today, 28th March 2021” – bringing fine dining, world-class entertainment experience and established brands to a surprising end. Predictably, the impacts of […]

HOW TO TERMINATE THE PERPETUAL EXISTENCE FEATURE OF COMPANIES INTRODUCTION In an earlier article about long-term planning, I argued strongly for the adoption of strategies by company managers and owners that give real effect to the “perpetual existence feature” bestowed on companies by law and practice on incorporation. However, like our local “community groceries” or […]

In my most recent article, I discussed the duties of directors of private companies under the Companies Act, 2019 (Act 992). However, directors are not the only officers or persons with duties imposed by Act 992 – mandatory or permissive. Act 992 also imposes duties on a company itself, members, officers, and other persons concerning […]