Venture capital: Series A preference share financings — why you should use the BVI
New business founders are entrepreneurial, with dazzling ideas and products: quite the opposite to us lawyers (at least that’s what they think). However, while a founder may have come up with a brilliant invention, he or she may be totally unfamiliar with even the most basic corporate concepts. They may not have ever formed a company, held shares or acted as directors before.
So when confronted with the prospect of forming a company, it is natural that founders may look to their peers and predecessors and try to replicate previously used corporate arrangements. ‘If it worked for them, it can work for us, right?’
In some jurisdictions, it is possible to incorporate a company over the internet very quickly, even without the involvement of lawyers. While this may save costs at the outset — which is, of course, crucial to founders — it is important that the type of company and jurisdiction that is used will offer excellent flexibility for: (i) decision making; (ii) future funding options; and (iii) expansion…
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What is the role of the Royal Court of Jersey in trustee applications for directions regarding disclosure of trust information?
A recent application has raised the issue of the function of the court, namely whether the court was exercising its own discretion in supervising, and intervening, in the administration of a trust.
Royal Court clarifies limits of customary law exception in respect of time-barred breach-of-trust claims brought by incoming trustee
Where a newly incorporated PTC recently appointed as successor trustee seeks to bring claims for breach of trust against predecessors, it will not be able to benefit from empêchement d’agir.