Maniax Posted October 16, 2014 Posted October 16, 2014 Their strategy might be to let Cycle Science "die" and go on with bussiness as ussually under the name "Cycle Repair Centre". I was wondering whether the claim/-s instituted against CS will still then be valid or can the owners/directors personally be held accountable for this?New SA company law holds the directors of a company personally liable for any lawsuits against said company. Thus, if you screw up as a business you cant hide behind liquidation anymore. So the legal wheels might still rip the new name off the door. Joshua1, JGR and Reg Lizard 3
Joe! Posted October 17, 2014 Posted October 17, 2014 New SA company law holds the directors of a company personally liable for any lawsuits against said company. Thus, if you screw up as a business you cant hide behind liquidation anymore. So the legal wheels might still rip the new name off the door. Erm, no, directors are not always personally liable "for any lawsuits"? Where did you study law? Section 77 of the Companies Act sets out when a director of a company may be held liable for loss or damage sustained by the company. Nayr, GrantRH and dracs 3
JGR Posted October 17, 2014 Posted October 17, 2014 Erm, no, directors are not always personally liable "for any lawsuits"? Where did you study law? Section 77 of the Companies Act sets out when a director of a company may be held liable for loss or damage sustained by the company.I think they would need to prove they acted negligently or illegally but in this case I think they would be liable
Maniax Posted October 17, 2014 Posted October 17, 2014 (edited) Erm, no, directors are not always personally liable "for any lawsuits"? Where did you study law? Section 77 of the Companies Act sets out when a director of a company may be held liable for loss or damage sustained by the company.Thats what I meant..... Edited October 17, 2014 by Maniax
awesme Posted October 17, 2014 Posted October 17, 2014 Think you might be referring to the King 3 Report, think it might apply to IT and Data governance only. G New SA company law holds the directors of a company personally liable for any lawsuits against said company. Thus, if you screw up as a business you cant hide behind liquidation anymore. So the legal wheels might still rip the new name off the door.
Trevor1971 Posted October 18, 2014 Posted October 18, 2014 These guys were on Carte Blanche for something similar a few months back, maybe contact them and they could maybe do a follow up or give you some advice as well. Mongoose! 1
marko35s Posted October 18, 2014 Posted October 18, 2014 These guys were on Carte Blanche for something similar a few months back, maybe contact them and they could maybe do a follow up or give you some advice as well.Read the opening posts - this thread is part of why they were on CB. GLuvsMtb 1
Wyatt Earp Posted October 20, 2014 Posted October 20, 2014 Read the opening posts - this thread is part of why they were on CB.Something many hubbers fail at miserably . Baaisikilist, Brogue and Hairy 3
Vetseun Posted October 20, 2014 Posted October 20, 2014 Something many hubbers fail at miserably .Agreed
LongDonkey Posted October 20, 2014 Posted October 20, 2014 Aaaah, i missed this thread. Can i ask what the difference is between a fake and a grey fake (again.....)???? Please......?. I miss all the chirps and punch bags.
MuddyMike Posted October 20, 2014 Posted October 20, 2014 Grey: real product through unofficial channelsFake: fake Brogue 1
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