Corporate Law Essay

3093 Words Sep 2nd, 2013 13 Pages
Table of Content 1. Part A 2.1 Veil of incorporations 2.2 Company Insolvency Trading 2. Part B 3.3 Company’s insolvent 3.4 Director’s breach duty 3.5 Duty of Care 3.6 Defenses and Consequences 3.7 Consequences and Penalties of breaching the duty 3. References

Part A
1.1 Veil of incorporation
According to the case, OHS Solutions Pty. Ltd. is a partnership company formed by three friends. They are Des who expert in occupational health and safety, Emma who has accounting degree and Satish who has an IT degree. In addition, Ying join as a director (non executive) and also as a director of Support Pty. Ltd. as a guarantor for a $50,000 loan from the Business Bank Ltd. to OHS
…show more content…
Part B
2.1 Company’s insolvent
OHS Solutions is a company formed by Des (Managing Director), Satish (Executive Director), Emma (Finance Director and Ying as a non-executive director. Des as a managing director responsible to manage and supervised the operation flow of the company. Satish as an executive director responsible to supervise and lead the operation and also engaged with third party. Ying as a non-executive director is a guarantor for OHS Solutions loan. The case mentions that OHS Solutions faced some initial IT problems which causing some advertisers material failed to accessed. To solved the IT problem, Satish as an executive director responsible regarding the operation had engaged Trouble Shooters Pty. Ltd. Satish decide to engaged Trouble Shooters Pty. Ltd. as a partner of OHS Solutions to overcome the technical problem.
Emma as a finance director responsible for supervise the cash flow of the company. Besides, she should manage the employee during creating a financial report. In this case, Emma fails to provide the record of company’s financial information. She was not able to provide since her employee had been sick at that time. However, that is her duty to supervise her employee. Des as a managing director, responsible to manage the operation of company’s work flow and also engage with third party or customer. Des as the managing director of OHS Solutions should

Related Documents