Published: 25 February 2019
CNPLaw, formerly known as Colin Ng & Partners LLP, gave a talk on the topic of business succession planning with a focus on shareholders’ agreements on 21 February 2019 at a seminar hosted by Mr Lau Ming Kwang, an executive financial consultant from AIA Financial Advisers specialising in estate and succession planning. The talk highlighted the potential issues arising from failure to address business succession, the benefits of having a shareholders’ agreement and the key considerations in preparing a shareholders’ agreement. The seminar was followed by a Q&A session and was well attended by participants from various industries.
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Every business involves an amalgam of various stakeholders, such as investors, shareholders and directors. Ideally, each of these stakeholders should have a common vision of what is best for the company. However, this is rarely the case when individual interests are factored into the equation.
Stakeholder conflicts (regarding issues such as breaches of fiduciary duties, derivative actions, shareholder oppression, management deadlocks, management compensation, dividend payments and buy-outs) can be a thorny issue and can leave a company crippled if not addressed promptly.
Given the diversity of interests at play, we appreciate that a multi-faceted approach is usually the most cost-efficient method of resolving stakeholder conflicts. Therefore, we provide clients with ready access to an integrated team of lawyers (combining the experience of our corporate, dispute resolution and employment law practices where applicable) who will effectively engage the relevant stakeholders in discussions on how best to resolve their differences amicably.
More often than not, clients are able to avoid costly protracted court proceedings and resolve stakeholder conflicts with discretion and expediency.