22 Jan

CORPORATE LAW PRACTICE WEEK 13- CORPORATE GOVERNANCE 4: FINANCIAL STATEMENTS, AUDITS AND ANNUAL RETURNS.

WEEK 13- CORPORATE GOVERNANCE 4: FINANCIAL STATEMENTS, AUDITS AND ANNUAL RETURNS. GENERAL OVERVIEW OF AUDIT, FINANCIAL STATEMENTS AND ANNUAL RETURNS. Every company should keep accounting records which should contain daily entries and receipts and a record of assets and liabilities of the company such that can explain/disclose its financial position and activities as a going […]

22 Jan

CORPORATE LAW PRACTICE WEEK 15 COMPANY SECURITIES 1

WEEK 15- TOPIC: COMPANY SECURITIES 1 SHARES & DEBENTURES AND ENFORCEMENT OF SECURITIES. Company securities consist mainly of shares, stock[1], bonds and debentures which are transferable choses in action-Okoya v Santili :: TYPES OF SHARES WITH THE RIGHTS/OBLIGATIONS ATTACHED. The general rule is one share one vote but such can be varied provided in accordance […]

22 Jan

CORPORATE LAW PRACTICE WEEK 16; COMPANY SECURITIES 2: (FLOATATION OF SECURITIES AND COLLECTIVE INVESTMENT SCHEMES).

WEEK 16. TOPIC: COMPANY SECURITIES 2: (FLOATATION OF SECURITIES AND COLLECTIVE INVESTMENT SCHEMES). Regulatory bodies here include; SEC, CBN, FHC, CAC, NSE. Regulatory laws include: CAMA, ISA, FHCAct, SEC Rules. Administration is largely vested in the SEC. :: PUBLIC OFFER AND SALE OF SECURITIES (SHARES, DEBENTURE, GDR AND BONDS). Only a public company can offer […]

22 Jan

CORPORATE LAW PRACTICE WEEK 17 RESTRUCTURING 1 (INTERNAL OPTIONS)

WEEK 17: CORPORATE RESTRUCTURING 1 (INTERNAL OPTIONS) :: REGULATORY BODIES IN CORPORATE RESTRUCTURING. SEC, CAC, NSE, CBN, FHC, other Sector Specific Regulators. Operators Involved here are: Financial Advisers/Issuing House. Solicitors, Auditors, Registrars, Stockbrokers (deal with the NSE area), Reporting Accountants, etc. DOCUMENTATIONS INVOLVED: Exclusivity Agreement, MOU, Confidentiality Agreements, Scheme of Merger. :: INTERNAL RESTRUCTURING OPTIONS. […]

22 Jan

CORPORATE LAW WEEK 18, CORPORATE RESTRUCTURING (EXTERNAL OPTIONS)

WEEK 18: CORPORATE RESTRUCTURING 2 (EXTERNAL OPTIONS). Third parties are involved in the process of external restructuring. :: RATIONALE, LEGAL FRAMEWORK AND REGULATORY BODIES INVOLVED: for growth, expansion, diversification, development, leveraging on economies of scale, survival strategy (e.g. merger of various banks), stock exchange quotation, technological Drive, Management Expertise, etc. :: EXTERNAL RESTRUCTURING OPTIONS. – […]

22 Jan

CORPORATE LAW PRACTICE WEEK 19, COMPANY PROCCEEDINGS AND INVESTMENT DISPUTES

WEEK 19- TOPIC: COMPANY PROCEEDINGS AND INVESTMENT DISPUTES RESOLUTION PART A :: CHECKLIST OF RELEVANT RULES: CPR 1992, CWR 2001, FHCCPR  2009[1], SEC Consolidated Rules 2013, IST Procedure Rules 2003. REGULATORY LAWS: ISA, CAMA, CFRN, ETC. :: NATURE OF COMPANIES PROCEEDINGS. :: IDENTIFY SUITABLE APPLICATIONS FOR COMPANY’S PROCEEDINGS. :: ADR OPTIONS AVAILABLE TO COMPANIES IN […]

22 Jan

CORPORATE LAW PRACTICE WEEK 20 WINDING UP AND DISSOLUTION

WEEK 20- WINDING UP AND DISSOLUTION OF BUSINESS AND NON-BUSINESS ORGANIZATIONS WINDING UP OF COMPANIES: It is the process by which a company is liquidated and dissolved and its assets is distributed in accordance with the rules of priority for the benefit of the creditors, members and employees-Tate Industries v Devcom MB Ltd. FHC has […]

22 Jan

CORPORATE LAW PRACTICE; SOME FORMS AND RETURNS

SOME CAC FORMS. CAC 1- Availability check and reservation of name CAC 1 A – Change ACnR CAC 2 – SSC & RoA CAC 2. A – RoA (Post Incorporation) CAC 2.1 – Company Secretary or any change therein. CAC 2.4 – NOCOAuthorised Share Capital. Cac 2.7 – Rr&Conv CAC 3 – S/CoRA CAC 4 […]