Compensation for removal - company management, Business Law and Ethics

Compensation for Removal:

Subsection (6) provides that nothing in s.185 shall be taken as depriving a removed director of compensation or damages payable to him in respect of the termination of his appointment as director or of any appointment terminating with that as director. This provision which restates the common law rule, would enable a managing director to sue the company for damages for wrongful dismissal if the effect of his removal as director was to prematurely terminate his appointment as managing director, and was inconsistent with the contract. The director might also, if he is a member of the company, be entitled to an order for the winding up of the company by the court on the "just and equitable" ground: Ebrahimi v Westbourne Galleries Ltd.

Posted Date: 1/12/2013 4:45:48 AM | Location : United States







Related Discussions:- Compensation for removal - company management, Assignment Help, Ask Question on Compensation for removal - company management, Get Answer, Expert's Help, Compensation for removal - company management Discussions

Write discussion on Compensation for removal - company management
Your posts are moderated
Related Questions
Payment of Underwriting Commission: A "commission" is defined by Osborn's Concise Law Dictionary as, inter alia "an agent's remuneration". Therefore purposes of company law, i

Registration of Prospectus:  S.43 (1) provides that no prospectus shall be issued by or on behalf of a company unless, on or before the date of its publication, there has been

TAKE-OVER BID:                   If Company A ("the transferee company") offers to acquire shares of Company B ("the transferor") and the scheme or contract to which the off

Reduction of Capital:   4.1 The general rule is that it is illegal for a company to reduce its capital. This is so because such a reduction would be tantamount to reducing

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Nature of a Company: There is no precise legal definition of "a company". This is due to historical reasons which are too lengthy to be narrated in this text. Suffice it to sa

Negotiable Instruments A negotiable instrument cannot be described regards precision, although can be explained like a commercial document that represents money. Whether it pa

Question 1: What are the procedures that an employer should follow before he will dismiss a worker for misconduct? Question 2: Section 39 of the Labour Act provides fo

Contractual Capacity of Persons of Unsound Mind Furthermore a contract entered into through a person of unsound mind is voidable on his option whether it is proved that the ot

Effects of an Order for Compulsory Liquidation: The effects of the order are follows as are: (a) the Official Receiver (an Official of the High Court whose duties relate ma