(no subject)

[pez]

If say, two friends have a partnership company, and they decide to get go public, get it listed on the market... the friends are the major shareholders (51% together). If one of them (the one with more shares out of the 51%) has a life-threatening illness, are they obliged to make it own to the other shareholders, or in fact is the friend obliged to tell the other friend at all?

I know, I'm stupid.

Comments

[vicky-guu-sama.livejournal.com]

hm...dun think so.

oh yah if u wanna check the true meaning of 易經, my friend has told me the answer~

[yuki-scorpio.livejournal.com]

Really? I only want to know that part of the 易經. What info do you have?

[vicky-guu-sama.livejournal.com]

darlin look at the replied post from teh relevant thread :)

[mildlyinsane.livejournal.com]

*blink* it depends...

as shareholder to shareholder, no. he doesn't need to inform anyone of his illness (unless he plans to sell his shares, or dispose of his shares, and the memorandum & articles have contingencies for such circumstances, he would need to at least give the other majority shareholder an advance heads-up)

but in this case, (is assuming you're asking for the tezuka ficcy) the shareholder is also heavily involved in the operations of the business. then the requirement to make his ill health known comes about not from his position as a shareholder, but from an operational view point, as someone essential to the running of the business. he needs to inform people that he may be incapacitated and so that the company can make sure that they have back-up plans in place.

(fuwas at self. years spent studying business admin/coy law paid off!)

[yuki-scorpio.livejournal.com]

Hmm... is it a legal obligation? Coz he's only contemplating it right now... although tell or not tell, I can still make the story work ^^

[mildlyinsane.livejournal.com]

*sheepishly* again, it depends... (i say that a lot at work) for instance, if you take a gander at a standard hiring application, they usually do ask for health status (cos of coy employee insurance costs a bomb), and most coys have annual checkups and such.

i believe the higher you are in a coy, the more detailed the employement contract, and hence, it *could* well be a legal obligation. (still, you can write around it, since tezuka owns the coy, no?) ^_~