Early Valuations can put you in an Empowered Position
Shareholder disputes are more common than we like to think and often prove disruptive to a business; in fact, it would be fair to suggest that a serious dispute can bring a successful business to its knees. Expert commercial lawyers can help perform early valuations and this helps pave the way for quick and efficient resolutions. Independent valuations of your shareholdings can strengthen bargaining power and there is higher likelihood of getting what you deserve. There can be several circumstances that can lead to a shareholders dispute. Differences of opinion may arise between the parties involved and the dispute could involve:
- Shareholders and directors of unlisted companies
- Shareholders and directors of proprietary limited companies
- Partners in a business partnership or trust
- Conflict between controllers of a business entity regarding management, finance, operation or other issues
At the core of any shareholders’ dispute is usually a struggle for control as well as the resultant benefits that can be expected from the control. Shareholder disputes may arise due to relationships gone sour, differences of opinion regarding succession, operation, finance or families could be mired in a dispute for future control of the business. At times, when shareholders fall out, they may complain of unprofessional handling of company affairs or even allege fraud. In such cases, it’s always better to seek efficient legal services in order to explore methodical and systematic solutions to legal problems.
The two cornerstones of Australian family law are a marriage and de facto relationship, including same sex relationship. The ultimate significance of a marriage and de facto relationship as the underlying fundamentals of Australia’s family law lies in the fact that these two types of family related states and interactions give birth to a wide array of legal issues that can be resolved only in the framework of family law. Most typical and important legal issues and thus topics of Australia’s family law include divorce, child support, spousal maintenance, property division, household content division, allocation and adjustment, parenting arrangements, adult child maintenance, etc.
The majority of the aforementioned legal issues, with the exception of child support, are regulated by Australia’s Family Law Act. This Act is a piece of federal legislation, which is enforceable in all states and territories of Australia. The Family Court of Australia and the Federal Magistrates Court exercise subject-matter jurisdiction under the Family Law Act. However, it needs to be mentioned that Western Australia has established its own Family Court, irrespective of the fact that the state also applies federal law to regulate the aforementioned legal issues. On the other hand, the issue of child support is regulated through child support schemes.
Looking for Clarity and Greater Understanding of Shareholder and Partnership Issues? Dedicated Lawyers can you Assert your Rights
Setting up and operating a business can be an exceedingly complicated process. Dedicated commercial lawyers can help you set up partnerships, obtain clarity on shareholder disputes and resolve legal problems related to business agreements. The success of a new venture often depends on greater understanding of the legal ground rules that govern business operations in Australia. In the beginning, most partners (who may also be family members or friends) are excited and enthusiastic about the prospect of getting a successful business off the ground. However, it is crucial to have written contracts drawn up so that partners can explore the future vision of the company within the proper legal framework.
One of the most significant building blocks for a successful venture is a written and well-structured shareholder’s agreement. A well-prepared and comprehensive shareholder’s agreement helps the business run smoothly. A shareholder agreement is especially useful in the event of a dispute or difference in opinion or even in case of doubt. Although the contents of shareholders’ agreements would vary across businesses, the following list typically describes some important information that is usually included in general:
The overarching purpose of criminal law in Australia is to bring about and enforce criminal sanctions, also known as penalties, such as imprisonment or fines, with regard to individuals whose behaviour is considered not merely unacceptable enough to deserve punishment by the state, but also socially dangerous. The key specificity of Australian criminal law stems from the fact that it originated from both common law (case law) and legal statues enacted by the legislatures, including, for instance, such statutes as the Crimes Act 1900 (NSW). In Australia, criminal law belongs to those domains of law that are largely controlled by the states, rather than by the federal government, notwithstanding the fact that there is a growing number of criminal law provisions enacted by the Commonwealth government as well, such as the Anti-Terrorism Act (No. 2) 2005 (Cth). Here, it is extremely interesting to note that the federal system of Australia has it own criminal law enforcement agency, the Australian Federal Police.
As the foregoing discussion must suggest, most of the criminal statutes in Australia originate from English criminal law, though Queensland originally rested its system on the nineteenth-century Code of India. Criminal statutes not merely define what constitutes a crime and cover the relevant penalties and sentences for diverse criminal offences, but also regulate issues of criminal procedure and evidence. In addition to this, certain specific statutes, such as the Corporations Act 2001, or laws pertaining to transport, roads or environmental protection, tend to prescribe sanctions for specific offences committed in particular areas of social relations.
Everyone should make plans for their family should the unthinkable happen. This is not difficult, especially when you have an estate planning solicitor to guide you. Making a Will is an essential part of it, although there can be much more to it. But for those who own a business it is a little more complicated because they have to decide what they want to happen to the business and those who work in it, then implement steps to ensure it happens.
If the business is a partnership or has several owners, there must be plans to ensure they are taken care of. One way to do this is to draw up a legally binding buy-sell agreement. This will outline what you want to happen if a partner or co-owner dies, decides to leave or is forced to leave for some reason.
If you have a small business, litigation lawyers will tell you it is absolutely essential to take out insurance against litigation. You may think that litigation only happens to other people and it is not likely to happen in your business, but this is not so. Accidents can happen to anyone at any time and if someone on your premises or on your payroll is injured or worse, litigation is likely to be the outcome.
In fact, even if you do have enough insurance to cover the costs involved in a litigation suit, there are many other factors involved that money cannot help.
If you have gone through recent divorce, you will need to think about fair and equitable property settlements if you and your ex have any property. Even the family home may need to be sold so that the proceeds can be shared fairly. Divorce lawyers such as Robinson Family Lawyers can give you a lot of advice regarding property settlement after your divorce.
In fact, you don’t have to wait till the divorce is finalised before working out the details of property settlement. That said, often a divorced couple will not be able to agree on what is fair and just, so the court has to decide. It’s a good idea to try Family dispute resolution in order to reach a fair decision as this is much quicker and it costs less.
When it comes to the breakdown of a relationship there must be a fair and equitable division of assets and debts. Legally, this is called a binding financial agreement, though it is often known as a ‘pre-nup’. Family lawyers like Culshaw Miller can help in establishing a pre-nup and in advising about the division of assets if there is none. In some cases this can be done quite easily between two people who separate amicably, but very often it has to be taken to court for a legal decision to be made as the two parties cannot agree on a fair division.
If it can be settled out of court it avoids the cost of court proceedings and just as importantly saves time and stress. Court proceedings are known for their slow movement forward and this can certainly add to the stress of the whole business of divorce. However, the reality is that a divorce is often accompanied by bitter feelings, which get in the way of any decisions that could be considered fair.
If you have any major assets, then getting estate planning legal advice from a family lawyer like Robertson Hayles should play a major part in your life, especially as you get older. If you die intestate – without a will – your assets will not go to your loved ones in the way you want. In fact, there might be very little left of your estate by the time it is released by the government.
Have your say
There are many reasons why estate planning is important, and why using an estate planning or Perth Wills Lawyer will benefit you and your heirs. No one knows what the future holds for them. We may hope to will live to a ripe old age, but even so, the end will eventually come. And it is increasingly likely that accident or disease will have a hand in an earlier release from this life. While few people like to think about it, wiser ones work to get everything in hand so that their loved ones are less traumatised by their passing and their assets are safely distributed the way they have chosen.
Those who own shares in any proprietary company (which means it has a “Pty Ltd or P/L in the name”), might have right that they are not aware of. This could include the right to access certain information regarding the company. It could also include the right to ask the company to hold a meeting of its members, which would be done under specific conditions.
Any company that does not follow through in providing what shareholders are entitled to, might be subject to dispute between members and the company, including the directors which could require experienced commercial lawyers like Lynn and Brown Commercial Lawyers to sort out. Some of these disputes about rights might include the following:
- Not enough general meetings.
- A company not acting in the best interest of the members.
- Not providing access to the company’s register.
- Legal action being brought against directors by members.
The constitution of a company details what the company has the right to do, and what it is obliged to do, including the rights and obligations of directors, officeholders, and members. In this manner, the constitution works similarly to a contract, but a breach of it is not a criminal offence. Private actions must be taken in order to enforce this contract. Disputes need to be settled by the parties, but the court system can be involved when this fails to happen.
There’s a common thought that business owners have. They think that they can deal with clients on legal issues and still not need a Lawyer; well, the truth is that this false belief can be a bane for them. So let’s talk about how to find a Lawyer.
Where to look for a Lawyer?
Yes, this can be an easy method to find a Lawyer. All you have to do is ask your family members or friends. However, you have to be careful here. Your friends and relatives may suggest you an attorney who is not really specialised in these matters. Watch out for that, you don’t need an attorney who doesn’t know the tools of the trade.
Looking Up Online For a Lawyer
Here, if you decide to go on the internet to find a Lawyer, something like Upwork can be of great help. But beware! A fancy profile can be deceiving. Look up for an attorney who is in your state. Go to their LinkedIn profile and read more about them and also find out the reviews on them by other clients. You don’t want all of it to be a disappointment. It’s advisable to schedule a meeting with the chosen candidate before finally selecting them.
Avvo and Lawyers List are great sources to find lawyers too. All you have to do is ask a question here. If a lawyer from your region answers, you can view his or her profile, then you may decide on a meeting and if things go well, you have struck a deal.
Shareholders (members) of private companies continually experience angst over their investments. There is always the greater element of risk when investing in a private and/or start-up company. More frequently after about six to twelve months they will find themselves bolt upright in bed at 3am suddenly realising that they might not see their money ever again.
The person they have linked their financial fate with is the director (and self-appointed CEO) who promised if they brought the capital he would bring the ideas and execution. Around the time the first set of accounts are prepared it becomes obvious that he has used most of the money for ‘business development’ activities like lunches with friends and travel.
The avenues that are available to the member depend on the character of the director’s activities. That is, are the actions fraudulent, negligent, intentionally misleading or just bad business. The legal remedies available to shareholders will be a combination of the:
Most states and territories have “declared war” on drug driving in the last couple of years. New South Wales is presently leading the charge by announcing that by 2017 they will increase the number of roadside tests to 200,000.
Our alcohol driving laws have been around for many years and there are now enormous amounts of data regarding its effect on driving, blood concentration levels that give rise to impairment and the likelihood of being involved in an accident.
This pervasive concept inherently coaxes us to evaluate the drug driving laws by similar standards. Unfortunately, the policy behind these laws and the manner in which they are being enforced is not at all like alcohol driving laws and consequently we must assess them from other perspectives or consult experienced criminal lawyers for advice..
Each state and territory has now enacted some form of roadside drug testing legislation. However, the incidence of that legislation and the now increased focus on enforcing it has not been complimented with any educational material or even a consistent approach. Some commentators say the reason for this is that it’s merely a campaign against drugs cloaked as a road safety campaign.
That is an interesting conundrum because users who are prosecuted for drug driving do not ordinarily face criminal charges for possession or use of illegal drugs; and yet the possession and use of the drugs that are tested for is itself a crime.