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Law Module: Management Add in library

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Question:

Discuss the relationship between the unfair prejudice remedy and winding up on the just and equitable ground.

 

 

Answer:

International corporation law is the contract established in between different buyers and sellers round the world. The complexity involved in such transaction and selling is cross border. The objective usually mentioned in the module deals with the contract, sale, insurance policies and international trade ethics. The fundamental characteristics of the module are the relationship formed by different parties of different countries. 

 

The unfair prejudice that is fund in most of the company is between different stakeholders. The shareholders have the keen interest of getting the benefit from the shares and the investment of the company. Similarly, in case of the director of the company the most important aspect is to run the organization maintaining the ethical grounds. There is basic conflict of interest established in between the shareholders and the managers of the company. In the case study that has been analyzed of Hawkes V Cuddy it has been found that the conflict of interest led to a series of issue. The problem arose in between the target company and the investor in the present case. Mr. Hawkes was the stakeholder of the company Welsh rugby whereas the director of the company was Mr. Cuddy. The conflict of interest that arose was due to the unethical means tried by Mr. Hawkes.  The court of Appeal revealed the fact that there were certain problems with the lack of information. The information forwarded by the director to the stakeholder was incomplete. This led to a clash of interest in the shareholders. The problems faced due to the case entail the following:

The investment focus and the role played by appointee was not analyzed properly

Analysis of the conflict defined the differences in between the shareholders

The extent to which the information is kept confidential

The issue related to the appointment of the appointee

As per the Companies Act 2006 the areas of interest and assessment followed were:

The company maintains the corporate procedures of the company. This ensures the fact that the law and the decorum including the approval of the members.

The conflicts of interest in the company analyzed along with the procedures mentioned in 175 (4).

The complexity that is part of the case is that there is presence of major clash of interest. The unfair means used by the company in the above case like not providing entire information to the stakeholder created problem. This led to the submergence of the Welsh rugby. The company faced a major problem relating to the interaction in between the director and the shareholders. There has to be equitable role that is played by all the employees and the stakeholders. This ensures that there is no unethical means or clash of interest like the company Welsh rugby. As per the international commercial law, the problem of conflict of interest in the different parties of countries is analyzed effectively. The complexity is reduced through proper work and the limitation and the employees and stakeholders of the organization follow ethical means. In case of Court of Appeal in Hawkes v Cuddy [2009] conflict of interest was the prime cause of unfair prejudice.

 

References

Sornarajah, M. (2010). The international law on foreign investment. Cambridge University Press.

Weber, R. H. (2010). Multilayered governance in international financial regulation and supervision. Journal of International Economic Law, 13(3), 683-704.

Lauterpacht, H. (2012). Recognition in international law (Vol. 3). Cambridge University Press.

Aust, A. (2010). Handbook of international law. Cambridge University Press.

Sornarajah, M. (2010). The international law on foreign investment. Cambridge University Press.

Lauterpacht, H. (2012). Recognition in international law (Vol. 3). Cambridge University Press.

Weber, R. H. (2010). Multilayered governance in international financial regulation and supervision. Journal of International Economic Law, 13(3), 683-704.

Aust, A. (2010). Handbook of international law. Cambridge University Press.

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