Back in 1897, three English Lords made a name for themselves by ruling that a company was indeed a separate legal entity from its shareholders. The case was Salomon v Salomon, and the unanimous ruling was that the creditors of a company could not sue the shareholders to pay the company’s debts.
Thus the principle of limited liability for company shareholders was cast in stone – and this case continues to provide a precedent over a century later.
But when does the limited liability of shareholders become unlimited liability for the company’s debts? Under what circumstances can you as shareholder or director find yourself personally liable for company debts? Is this potentially a problem for you? What can you do to protect yourself against this happening? And conversely, what opportunities might be available to attack the shareholders and directors of a company that owes you money?
Our panel will address these questions on the day.
This event will be held at the Elevate CA Limited office, level 4, 35 Robert Street, Whangarei at 5:30pm on Thursday 13 March 2014 – and will run through to 7:30pm on the night.
As always for Business Owners Forum events, this session will be free of charge and completely free of sales pitches from the supporters or the panelists. And there will be pizza, beer and wine to lubricate quality discussion.
Business Owners Forums are held monthly – alternating between Whangarei, Albany and Newmarket venues.
If you’d like to attend this event, email Fraser Hurrell before this event fills up. And if you’d like to be included on the invite list for future events, just add your contact details in the box to the right.
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