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CMI Triangle 03

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  • Directors and their general duties

    PDF

    11 September 2017

    English law imposes on company directors high standards of behaviour and they must put the interests of the company before their own. Their duties are derived from both statute and case law. In addition to general duties, there are extensive specific duties. This is an introductory guide to those general duties.

  • Insolvency - Issues for directors

    PDF

    16 March 2017

    All directors owe duties to their companies. When a company is solvent, those duties are owed to the company personified by its shareholders. But when insolvency is pending, directors must act in the company’s creditors’ best interests. That difference means that the nature of the directors’ duties undergoes a significant shift when insolvency threatens.

  • Buying a business in the UK

    PDF

    11 January 2017

    This guide is intended to assist potential buyers, who are from overseas, and have not been through the process of buying a business in the UK before and want to know a little more about what to expect. English company law does not impose any restrictions on foreigners acquiring an interest in domestic companies. These notes assume that the target business is owned by a private limited company incorporated in England, with several individual shareholders.

  • What’s the value in updating my articles of association?

    PDF

    06 December 2016

    There is no obligation to keep your articles of association (articles) up to date but there are definite benefits. It would be cost effective to update your articles to reflect, and take advantage of, the significant changes introduced by the Companies Act 2006 (the Act) and some more recent changes to that regime. This guide explains why.

  • Share buy backs - what’s the fuss?

    PDF

    16 June 2016

    When a company is planning a share buy back (or purchase of its own shares) it’s time to be careful. This note explains why you need to be careful, and summarises the company law issues that must be addressed in advance before the company enters into any commitments.

  • Why have tailored articles of association and even a shareholders agreement

    PDF

    09 June 2016

    If you are setting up a company with your business partner, you may be tempted to rely solely on the statutory default articles of association for private companies limited by shares (the Model Articles) to govern the internal procedures of the company, and the corporate relationship between you. These notes show why you really should consider having articles that are tailored to your circumstances, and even a shareholders’ agreement, between you and your partner - even if you wouldn’t dream of falling out with him or her.

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