After more than fifty years, Civil Law in Hungary will be completely rewritten by the New Civil Code that will come into effect this year on the 15th of March. Several areas of law that have formerly been regulated in separate acts will now be incorporated into the new Code. These areas of law include family law, company law, as well as the law regarding civic organizations. Critics say that the new law sacrifices too much for dogmatic integrity and disassembles the unity of corporate law by extending current provisions for companies to all legal entities which will result, in many cases, in incomplete, inconsequent or redundant regulation. On the other hand, the concept of the new law is to provide more freedom to contracting parties. The present article seeks to summarize the ten most important matters that will have the largest influence on businesses.
This is a sample of what board of director meeting minutes should contain.
As a general rule, no minimum corporate capital is legally required for a limited liability company. It is usually suggested that the amount of the corporate capital be consistent with the initial operational needs of the company. In the event that a higher amount is needed afterwards, the partners may increase the corporate capital amount at any time, provided that the initial corporate capital has been fully paid-in. This article discusses liability, obligations, and other legal issues associated with partners’ capital, in accordance with Brazilian laws.
This Top Ten examines ten key issues that should be at the top of directors' minds as we enter 2014 and the upcoming proxy season.
This report underlines the extent to which corporates have sought to diversify their funding mix. Following years of volatility and uncertainty, the financial markets appear to be stabilising. What’s now clear, as the dust settles from the financial crisis, is that a structural shift has taken place in the way that corporates access finance. This report highlights that, rather than returning to normality, financing is set to become increasingly diversified. It also assesses the implication of this on the behaviour of both banks and funds.
Legal teams are increasingly becoming responsible for data management. Like a spider’s web, every strand of data intertwines to support the business. At first glance the spider’s web may seem messy and chaotic, but there is order – each strand has a specific purpose. This article takes a close look at the information governance web and suggests ways to establish an effective, long-term information governance plan.
This article asks what we should be worrying about: the ‘management knowledge-captured board.’
This council has brought together experienced compensation committee chairs from Fortune 500 companies with key shareholder representatives, regulators, and other stakeholders to discuss ways to strengthen corporate governance in general—and compensation committee oversight in particular.
A company’s board of directors is responsible
for investigating allegations of wrongdoing by officers and employees of the company. However, sometimes it is a board member who ends up in the investigatory hot seat. This article examines the best practices companies should consider when investigating alleged board member misconduct.
Michael McCoy works for the global technology distributor Avnet, Inc. He currently serves as vice president and corporate secretary, providing oversight for corporate governance, financing, securities regulation, subsidiary maintenance, employee benefit plans, insider trading policies and stock repurchases. Read this article to learn why McCoy was honored with a “Rising Star of Corporate Governance” award from the Ira M. Millstein Center for Global Markets and Corporate Ownership at Columbia Law School.