Financial Sources for Company Scale-Up

2020 ◽  
pp. 97-108
Author(s):  
Pavla Pokorná
Keyword(s):  
Scale Up ◽  
Limited Liability ◽  
General Meeting

This chapter deals with the reinvestment activity of enterprises. Reinvestments are commonly discussed in connection with public limited liability companies, where the general meeting of shareholders decides how much of the profit, they will redistribute among themselves and how many per cents they will return by reinvesting in the company. However, this chapter often deals with smaller companies, but for many companies these decisions are of an existential nature. These dilemmas are crucial for the company in terms of the direction of the company and determining its own character and focus. In these companies, the direction of funds is decided by the company managers or their owners. Each company is specific, both in its area of business, its strategy or its nature of development, this and many other factors influence what companies invest in or, as in this case, reinvest their funds.

scholarly journals Legal status of the company's share in own authorized capital under the Law of Ukraine “On limited and additional liability companies”: problems of legal regulation

2021 ◽  
Vol 11/1 (-) ◽  
pp. 31-36
Author(s):  
Volodymyr TSIUPRYK
Keyword(s):  
Legal Status ◽  
Limited Liability ◽  
General Meeting ◽  
Legal Regulation ◽  
Legal Nature ◽  
The Law ◽  
The Right ◽  
A Company ◽  
Authorized Capital ◽  
A Share

Introduction. Nowadays, the issue of determining the legal status of the company's share in the own authorized capital of LLC and TDV has become quite acute, as evidenced by the adoption on July 28, 2021 by the Commercial Court of Cassation in Case № 904/1112/20, in which the Court established a new approach legal nature of such a phenomenon and expressed his own position on the understanding of the legislation concerning the legal status of the share of LLC and TDV in its own authorized capital. Given that a limited liability company is the most popular type of legal entity that is chosen to conduct business in Ukraine, the analysis of this issue is relevant. Some scientific value for the development of the transfer of the participant's share are the works of individual authors devoted to the study of the legal nature of the share in the authorized capital but the problems arising around the legal status of the company. in their own authorized capital in these works were only mentioned along with others, but did not receive a detailed separate study. The purpose of the paper is to analyze the normative regulation of the legal status of the company's share in the own authorized capital of LLCs and ALCs, identification of shortcomings in their legal regulation and implementation, as well as the search for ways to eliminate them. Results. One of the most relevant decisions concerning the subject of this article is the Judgment of the Commercial Court of Cassation in case № 904/1112/20 of July 28, 2021. The court in this case found that the votes attributable to the share belonging to the company itself are not taken into account when determining the results of voting at the general meeting of participants on any issues. However, Ukrainian legislation does not contain any direct norms that would prohibit the exercise of the right to manage a company in relation to itself on the basis of a share in its own authorized capital. That is why the company cannot be a participant in relation to itself, although they seem logical, but do not have sufficient regulatory support, and therefore do not allow to be firmly convinced of their compliance with the law. In view of this, it can be stated that there is a significant gap in the national legislation on this issue, which, in our opinion, the Court failed to “fill” with this decision in the case. Conclusion. In the Ukrainian legislation at the level of the Law of Ukraine “On Limited and Additional Liability Companies” Article 25 defines the possibility for a company to acquire a share in its own authorized capital. However, the regulation of the legal status of such a share cannot be called sufficient, due to which in practice there are certain problems in the implementation of the provisions of the legislation concerning the share of the company in its own authorized capital. The solution of these legal problems is necessary to ensure the highest quality and clarity of the law, as well as to form case law with common approaches to understanding a single rule.

scholarly journals Perlindungan Hukum Pemegang Saham Minoritas Perseroan Terbatas Tertutup dan Keadilan Berdasar Pancasila

SASI ◽  
2019 ◽  
Vol 25 (2) ◽  
pp. 199
Author(s):  
Mustaqim Mustaqim ◽  
Agus Satory
Keyword(s):  
Decision Making ◽  
Qualitative Data ◽  
Legal Protection ◽  
Limited Liability ◽  
Secondary Data ◽  
General Meeting ◽  
Voting Rights ◽  
Limited Liability Company ◽  
Minority Shareholders ◽  
Full Control

Legal protection for the majority shareholders is sufficiently guaranteed, especially through the mechanism of the RUPS, but this is not the case for minority shareholders, thus creating an injustice problem for minority shareholders. The purpose of this study is to uncover and find out legal protection for minority shareholders in a limited liability company based on Pancasila justice. This research is normative juridical so it uses secondary data with the law approach and qualitative data analysis. The results showed that the General Meeting of Shareholders did not reflect legal protection for minority shareholders, because in every decision making through the General Meeting of Shareholders and various other decisions based on the attendance quorum about the majority of votes present at the General Meeting of Shareholders. Such matter is detrimental to the interests of minority shareholders because without the presence of minority shareholders, a General Meeting of Shareholders can be held, while minority shareholders also have the same rights and obligations and responsibilities. The majority of shareholders hold a large and full control over the company, resulting in minority shareholders, there is no guarantee to get justice based on Pancasila justice. Therefore, the General Meeting of Shareholders must be held if attended by all shareholders with voting rights present or represented. If this is not the case, the results of the General Meeting of Shareholders may be canceled.

scholarly journals KEBERADAAN PEMEGANG SAHAM DALAM RUPS DENGAN SISTEM TELECONFERENCE TERKAIT JARINGAN BERMASALAH DALAM PERSPEKTIF CYBER LAW

2015 ◽  
Vol 4 (1) ◽  
Author(s):  
Ni Ketut Supasti Dharmawan
Keyword(s):  
Limited Liability ◽  
General Meeting ◽  
Company Law ◽  
Limited Liability Company ◽  
Legal Subject ◽  
Network Problem ◽  
Network Problems ◽  
Cyber Law ◽  
Internet Network ◽  
Legal Right

In Indonesia, the General meeting of Shareholder through teleconference mechanism can be conducted under the provision of Article 77 of Law No. 40 of 2007 concerning Limited Liability Company. This teleconferencing mechanism allows all participants to see and to hear each other as well as  to participate in the teleconference meeting. There is legal vacuum with regard to position of shareholders in the General Meeting by teleconference mechanism, especially in the case of network problems. However, by analogy with the legal construct of the provisions of Article 90 of the Company Law can be stated that the position of shareholders continues to be recognized as a legal subject who has legal right and has valid votes counted even if the minutes of the meeting have not been signed electronically because internet network problem as long as treatise or the minute of General Meeting of shareholders is made by notarial deed and shall be signed by the Notary who made the deed.

scholarly journals View at the Partner’s Transfer of the Stake and its Restrictions

2015 ◽  
Vol 15 (1) ◽  
pp. 129-140
Author(s):  
Adriána Palajová
Keyword(s):  
Limited Liability ◽  
General Meeting ◽  
Case Law ◽  
Point Of View ◽  
Third Party ◽  
Limited Liability Company ◽  
Commercial Code ◽  
Commercial Company ◽  
Material Conditions ◽  
Business Share

Abstract This article deals with the transfer of stake in a general commercial company and the transfer of business share in a limited liability company especially according to Slovak legislation and also according to older and current Czech legislation. The attention is focused on the regulation of these transfers and the relations that are generated on the basis of author´s point of view and case law. The question of the admissibility and prohibition of the transfer of stake is presented in general commercial company. Analysis of the issue focuses mainly on the formal and material conditions of transfer of business share in limited liability company with differentiation on another member and on third party. Special attention is paid to the consent to that transfer granted by the general meeting or by other body of limited liability company and also is paid to the legal consequences that arise in the case of withholding of consent. The authoress seeks to point at the shortcomings of assessed legal arrangement and provides possible legislative solutions of transfer of stake or business share within the dispositive provisions of the Slovak Commercial Code.

scholarly journals Analysis of Validity Decisions General Meeting of Shareholders Limited Liability Company in Circulation

2018 ◽  
Vol 5 (2) ◽  
pp. 356
Author(s):  
Nanang Nurcahyo ◽  
Yudho Taruno M
Keyword(s):  
Limited Liability ◽  
General Meeting ◽  
Public Official ◽  
Limited Liability Company ◽  
Legal Validity ◽  
Applicable Law ◽  
Share Ownership ◽  
Limited Company ◽  
Made In

The General Meeting of Shareholders (AGM) held by the company is an important organ in taking various policies in the company. The GMS in practice is set forth in an authentic deed made before a notary and or made in minutes of meetings in the form of a deed under the hand, and then the deed is set forth in the form of an authentic deed and this practice is known as the deed of the decision of the meeting. In this context, the responsibility of a notary in making the deed of declaration of decision of general meeting of shareholders of circular limited company should be studied further, since a Notary is a public official who has authority to make authentic deed of all acts, agreements and stipulations ordered by general regulations or requested by the parties making the deed. Notary as a public official in every execution of his duties should not be out of the "signs" that have been regulated by the applicable law. Based on the results of research can be concluded that the making of Deed of Shareholders General Meeting of Shareholders which made in circulation has been regulated in Law Number 40 Year 2007 and has been allowed, so have legal validity and strength. However, in the verdict the judge has overturned the ruling of the general meeting which was made in circulation regarding the transfer of ownership of the shares, because the judge considered that in making the decision there is one element that has not been completed, namely the signature of several parties. With the cancellation of the decision, it will affect the return of share ownership from the defendant to be returned to the party, and this also affects the notary who participated in making the deed of decision of the general meeting that the notary is required to obey and comply with the stipulated decision.

Akibat Hukum Surat Pertanggungjawaban Laporan Tahunan Yang Tidak Ditandatangani Oleh Seluruh Dewan Komisaris

2020 ◽  
Vol 3 (2) ◽  
pp. 133-143
Author(s):  
Atika Wulan Dari ◽  
Busyra Azheri ◽  
Yussy Adelina Mannas
Keyword(s):  
Annual Report ◽  
Case Reports ◽  
Limited Liability ◽  
General Meeting ◽  
Company Law ◽  
Limited Liability Company ◽  
Legal Consequence ◽  
A Company ◽  
Legal Consequences ◽  
Laws And Regulations

The purpose of this study is to analyze how the legal consequences of the annual report accountability letter were not signed by the entire Board of Commissioners of a limited liability company by looking at the case of PT. Garuda Indonesia Tbk which occurred in 2019. Where in that case there was a rejection by 2 (two) Commissioners from PT. Garuda Indonesia Tbk to sign the annual report at the General Meeting of Shareholders. The nature of this research uses normative research, namely by reviewing laws and regulations, as well as company case reports. Based on this case, the function of company organs in charge of supervising a company is not going well. The case shows that this organ does not carry out its supervisory function in accordance with Article 108 of the Limited Liability Company Law. The legal consequence in this case is the imposition of fines on the organ of the company that signs the annual report. This is a consequence of the collegiality of the responsibility of the Board of Commissioners in a limited liability company.

The managers’ decisions submitted to the approval of the general meeting: Review of Turkish Commercial Code regulations

2021 ◽  
Vol 3 (1) ◽  
pp. 8-16
Author(s):  
Işik Özer
Keyword(s):  
Decision Making ◽  
Limited Liability ◽  
General Meeting ◽  
Decision Making Process ◽  
Commercial Code ◽  
Turkish Commercial Code ◽  
Additional Costs ◽  
The Right ◽  
Made In

Article 625/2 of the Turkish Commercial Code (TCC), adapted from the Swiss Code of Obligations (Obligationenrecht 811, hereinafter referred as OR 811), allows managers to submit certain decisions and individual matters to the approval of the general meeting. This paper purports to reveal how this article could be interpreted and the regulations to be made in the agreements of limited liability companies in Turkish law. To do that, an interpretation of article 625/2 of TCC is developed. In addition, the effect of this article on the liability of the managers and the references made to articles 51 and 52 of the Turkish Code of Obligations (TCO) are explained. With a regulation added in the agreement of the company, the managers would either be required to submit or they would be free to choose to submit certain decisions and individual matters to the approval of the general meeting. Considering that the submission slows down the decision-making process and causes additional costs, granting the managers the right to choose becomes an important issue. However, the approval of the general meeting does not remove the liability of the managers. So when a lawsuit for liability is filed against managers, the approval of the general meeting may decrease the payment for compensation (articles 51 and 52 of TCO)

scholarly journals Konseptualisasi dan Peluang Cyber Notary dalam Hukum

2019 ◽  
Vol 4 (1) ◽  
pp. 29
Author(s):  
Cyndiarnis Cahyaning Putri ◽  
Abdul Rachmad Budiono
Keyword(s):  
Limited Liability ◽  
General Meeting ◽  
Electronic Media ◽  
Electronic Equipment ◽  
The Other ◽  
Normative Study ◽  
Conceptual Approach ◽  
Electronic Form ◽  
Notary Public ◽  
And Storage

This paper aims to reveal the conceptualization and opportunity of the concept of the cyber notary as one of the other notary authorities as stated in the explanation of Article 15 Section (3) of Law Number 2 of 2014 concerning Amendments to Law Number 30 of 2004 concerning Position of Notary Public (UUJN). This paper is a normative study using the statute approach and conceptual approach. The concept of a cyber notary can be interpreted as a method for a notary in carrying out their duties and authorities by using electronic equipment (cyber), but their authority has limitations for the authority of certification of transactions conducted electronically. Opportunities for the concept of a cyber notary can be reviewed in the drafting of the results of the General Meeting of Shareholders based on Article 77 of Law Number 40 of 2007 concerning Limited Liability Companies and storage of the Notary protocol in electronic form. The application of cyber notary is still constrained by UUJN which has not yet opened up opportunities for deed making through electronic media.

scholarly journals METHODICAL PROVISIONS FOR CREATING AN OUTSOURCING COMPANY (WITH CONSIDERING ORGANIZATIONAL AND LEGAL FORMS OF ENTERPRISES)

2019 ◽  
Vol 21 (2(71)) ◽  
pp. 121-129
Author(s):  
A. SAINCHUK
Keyword(s):  
Limited Liability ◽  
Institutional Support ◽  
General Meeting ◽  
The State ◽  
Joint Stock Company ◽  
Stock Company ◽  
Legal Form ◽  
Legal Forms ◽  
Definition Of ◽  
State Registration

Topicality. The topicality of the problem of creating an outsourcing company does not raise doubts, because the number of outsourcing companies is constantly increasing which provide outsourcing services. During the crisis in Ukraine, there is to need in next positions: reducing the cost of the enterprise, maintaining a certain market segment, maintaining competitiveness in the market, maintaining a certain quality of services (works, goods). If the company use outsourcing at the enterprises, it will be possible to hold all these positions, during the crisis management period.Aim and tasks. The aim of the article is to develop methodological provisions for creating an outsourcing company within the framework of the existing institutional support in Ukraine. Some stages of creating an outsourcing company can be given on the example of law firm in the form of an attorney company, an attorney bureau or a lawyer of individual (an entrepreneur and a self-employed person).Research results. The methodological provisions were developed for creating an outsourcing company. In the article was using the example of practice of law, was taking into account the peculiarities of state registration of various organizational and legal forms of management and the tax system. Also, an algorithm has been created for the election of a simplified taxation system if to realise the case of a project to create an outsourcing company.Conclusion. Methodical provisions for creating an outsourcing company consist of sixteen stages. The author provided recommendations for making changes to the classifier of organizational and legal forms of enterprenier. It was proposed to add an outsourcing company as a new organizational and legal form of enterprenier in order to improve the existing system of national statistical classifications. The changes will provide the State Statistics Service of Ukraine the opportunity to raise to a qualitatively new level the statistical analysis of outsourcing companies in Ukraine.There is no clear phased methodology or instructions for creating a new outsourcing enterprise in Ukraine. The author has developed a methodology for creating an outsourcing company within the institutional support in Ukraine.The article examines in details the situation - the use of outsourcing when creating an outsourcing company. The article also gradually developed an algorithm for creating an outsourcing enterprise. Only five stages were investigated for creating outsourcing company in this article.The author has distinguished the sixteen stages of creating an outsourcing company.Stage 1 - the definition of the organizational and legal form of entrepreneur. The author proposed a new legal form - an outsourcing company. Therefore, it is necessary to change the existing classifier. In work the algorithm of definition of the organizational and legal form of entrepreneur on an example of lawyer activity is developed.Stage 2 - determination of the name of the enterprise. Practical recommendations are given for determining the name of an outsourcing company.Stage 3 - determining the number of participants (founders) of the company. Depending on the number of founders, it is necessary to choose a certain organizational and legal form of entrepreneur. So, for example, if a lawyer carries out practice of law individually without the involvement of employees and other founders, then it is necessary to carry out activities in the form of an individual, an entrepreneur or a self-employed person. Then create a company is not required.Stage 4 - the formation of the charter capital of an outsourcing company. The author has noticed that the minimum charter capital is set for a joint stock company, but not for a limited liability company. This stage is status ant, as the participants are responsible within their share in the charter capital.Stage 5 - drawing up and signing the charter and the protocol of the general meeting of the participants (founders) of the company on the creation of an outsourcing company. There are two types of charters in the article: model and own charter of the company. The model charter does not even need to be submitted to the state registrar. The article contains the main sections of the charter of an outsourcing company.The next article will consist of from sixth to sixteenth stages.

scholarly journals The Validity of the Electronic Signature in Electronic General Meeting of Shareholders S of the Limited Company’s

2021 ◽  
Vol 23 (2) ◽  
pp. 257-273
Author(s):  
Ikhsan Lubis
Keyword(s):  
Limited Liability ◽  
General Meeting ◽  
Electronic Signature ◽  
Electronic Signatures ◽  
Legal Rules ◽  
Legal Evidence ◽  
The Status ◽  
Approach Method ◽  
The Government ◽  
Made In

The enactment of electronic signatures, especially at the General Meeting of Share-holders (GMS) and responses to legal actions from electronic signatures in the deed of Decision of the General Meeting of Shareholders in a Limited Liability Company, will be confronted by the progress of the era and the legality of the deed. This research method is classified as normative research, the approach method is descriptive analytical. This study shows that the regulation of electronic signatures on the deed of the Statement of Shareholders' Meeting Resolutions is the development of the form of legal evidence. For this reason, the form of evidence is made in the form of electronic information or electronic documents. The effect of the signing if it is done through electronic media, namely the result of the GMS decision has a legal impact on the status of ratification in the law. If the GMS has an electronic signature so that the legality of the legal action is recognized, the government and especially the legislators make legal rules to regulate with certainty the validity of the results of the GMS electronically, so that legal certainty is formed.

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