Premium Essay

Cms Dutiesresposibilitiesdirectors

In: Business and Management

Submitted By meghdol79
Words 76452
Pages 306

Duties & Responsibilities of Directors
September 2012

With increased consolidation of business across Europe, executives of multinational groups can find that they are required to become directors of companies in a variety of jurisdictions, often at short notice.
The rules relating to directorships vary considerably from jurisdiction to jurisdiction. This guide is intended to provide an overview of the duties and responsibilities of directors across 23 countries in Europe, answering the most frequently asked questions for directors coming from another jurisdiction. In many jurisdictions, there are various forms of company available, and there are different rules for directors according to the type of company used. This guide focuses for each jurisdiction on the most common form of company, and on the rules which apply to executive / managing directors. CMS is the organisation of independent European law and tax firms of choice for organisations based in, or looking to move into, Europe. CMS provides a deep local understanding of legal, tax and business issues and delivers client-focused services through a joint strategy executed locally across 28 countries with 52 offices in Western and Central Europe and beyond. CMS was established in 1999 and today comprises ten CMS firms, employing over 2,800 fee earners and is headquartered in Frankfurt, Germany. This guide is intended only to provide a general overview of the matters covered. It is based upon the law in each of the countries as at 1 June 2012. However, the information contained in this guide is not comprehensive and does not purport to be professional advice. For further information on rules for directors of private companies in Europe, contact any of the people listed in the section ‘Contacts’ from page 132, or your usual contact at CMS.


For each of the...

Similar Documents

Premium Essay

Healthsouth - the Scrushy Way

...HealthSouth: The Scrushy Way Vonetta M. Henderson Northcentral University Introduction The Enron and Tyco scandals brought visibility to corporate scandals. The magnitude of these scandals resulted in the Sarbanes-Oxley (SOX) Act in 2002. Richard M. Scrushy and HealthSouth Corporation were the first CEO and company to be indicted under the SOX Act. HealthSouth was charged with filing false financial statements with the SEC to hid poor financial conditions from Wall Street. An audit conducted by PricewaterhouseCoopers concluded that HealthSouth overstated its cumulative earnings between $3.8 billion to $4.6 billion (Weld, Bergevin, & Magrath, 2004). Although Scrushy was charged with 85 counts, he pled not-guilty, claiming that he was unaware of the fraudulent activities that had occurred. Scrushy was later exonerated as the investigation into the company found no evidence that Scrushy orchestrated or participated in any financial wrongdoings. Five financial executives and 10 other company officials pled guilty to a variety of charges. Background Richard M. Scrushy founded Amcare, Inc. in 1984. The company opened its first facility in Little Rock, Arkansas and one year later opened a facility in Birmingham and changed its name to HealthSouth Rehabilitation Corporation (HRC). In 1986, HRC went public with its initial public offering (IPO) on the NASDAQ stock exchange (HealthSouth Corporation, 2010). In 1988, HRC moved......

Words: 1035 - Pages: 5

Free Essay

Wwe Duh

...teammates, Championships, injuries, among other things that certainly make people continue struggles, and see them continuously, the story of the characters is linear. Program Raw on Monday was recorded for the first time in the city of Mexico, which created much commotion that in Mexico there are many followers of this programme and, of course Rey Misterio and recently Alberto del Rio, the two Mexican fighters of the brand. The show was like any other of the engravings in the U.S. without leaving any part of the show, and was a great show. What happened in history: was the first show directed by acting general manager John Laurinaitis, which suddenly started asking for apologies to Jim Ross. We saw several fights as Dolph Ziggler vs Mason Ryan, CM Punk vs. The Miz, but the best were the triple duel between Mark Henry, Cody Rhodes and Christian vs. John Morrison, Sheamus...

Words: 333 - Pages: 2

Free Essay

Th3Rd Summer of Punk

...Phillip Jack "Phil" Brooks[1] (born October 26, 1978),[4] better known by his ring name CM Punk, is an American professional wrestler signed to WWE. He is titled in the company as "the longest-reigning WWE Champion of the modern era", having held the title for 434 days from November 20, 2011 to January 27, 2013. Punk is officially recognized as the sixth-longest reigning champion of all time. In professional wrestling, Punk is a seven-time World Champion, having held the ROH World Championship and ECW Championship once each, WWE's World Heavyweight Championship three times, and the WWE Championship twice. He won the World Tag Team Championship (with Kofi Kingston) and the WWE Intercontinental Championship, making him the 19th WWE Triple Crown Champion and the fastest man in WWE history to achieve this feat, in 203 days.[11] Between WWE and Ring of Honor (where he is a two-time World Tag Team Champion), Punk has won a total of 11 championships. He won the 2008 and 2009 Money in the Bank ladder matches (the only wrestler to win the match twice[12]) and the 2011 Superstar of the Year Slammy Award Punk initially came to prominence through his career on the professional wrestling independent circuit, primarily as a member of the ROH roster. There, he was the first head trainer of the ROH wrestling school. Also while competing in ROH, Punk won both the company's championships. In 2005, Punk signed a contract with WWE and was sent to its developmental promotion, Ohio Valley......

Words: 522 - Pages: 3

Free Essay

Hypervisor 1

...Hypervisors 1 Runner Header: Hypervisors Hypervisors CIS 512 December 16, 2012 Hypervisors 2 In today’s world technology has advance in numerous ways. Technology has given the capabilities to receive, fix, and move objects without being present. This is the concept of virtualization. “Virtualization is the creation of a virtual (rather than actual) version of something, such as an operating system, a server, a storage device or network resources”. The virtualization innovation has assisted companies in a positive way, but also can inflict negative wounds to the organization. Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way that people compute. The 1960s was when virtualization was first deployed by IBM, itts main purpose was to operate mainframe hardware through separating them into virtual machine. In the 1980s and 1990s virtualization was not needed due to the growing numbers of desktop computing and x86 servers. New issues came to rise such as soaring maintenance and managing cost which lead to the creation of virtualization for x86 platform. Virtualization significantly drops general IT costs. Virtualization permits you to run several operating systems on a single computer. In July 2006 Microsoft made public a free Microsoft Virtual PC 2004 which is a windows hosted virtualization program. The latest version is combined with Windows 7 operating system......

Words: 2624 - Pages: 11

Premium Essay

Legal Issues for Managers

...Legal Issues for Managers Legal Issues for Managers: Potential Liabilities The object of this essay is to advice on potential liabilities of Cena, Rock, Kofi and Punk. First and foremost delivery driver Cena failed to check his trailer was properly coupled to his truck. While driving the trailer detaches, rolling down hill colliding with Rock, a motorcyclist. Due to Cena’s negligence Rock, not wearing a crash helmet suffered severe injuries and damages to his body and motorcycle. Per Lord Atkins “we owe a duty of care if it is reasonable to foresee that another person might suffer damage as a result of our act or omissions”. (Lord Atkins) Rock may state, surely Cena had a duty of care to ensure his vehicle was suited for purpose. Nevertheless, since Rock was not wearing a helmet, Cena may argue that Rock is liable for some of his injuries. Comparably under the case of Smith V Leech Brain & Co Ltd and Another [1962] All Er 1159, Smith incurs fatal injuries when molten metal burns his lips, leading to cancer and eventual death. This being said, Smith “already had a pre-malignant condition”. The defendant argued, “Smith may have contracted cancer due to his condition, regardless of the accident”. (Smith V Leech Brain, 1962) Conversely, but for the burn, Smith may have never developed cancer. According to Thin Skull Rule “a defendant is liable for the full extent of the victim's injuries even if, due to some abnormality or pre-existing condition, the......

Words: 1158 - Pages: 5

Premium Essay

Vmware Essay

...Robert W. Morley NT1210 October 20, 2012 Week 5 Essay VMware has been the market leader in virtualization products for many years now. Microsoft with their “slow but steady” pace in the field has defiantly taken some major leaps and bounds in their offerings to the world of virtualization now. The two solutions that shall be discussed here are VMware’s vSphere 5 and Microsoft’s Hyper-V. While both are great products, and share many of the same basic capabilities, pricing and limitations on said capabilities is what will ultimately separate these two from one another. VMware as stated above has been the industry leader for years when it came to virtualization whether on a single workstation or across an entire network. It has a very easy and logical interface that can be quickly learned by most in a very short time, assuming that the proper networking, deployment, and OS knowledge is already present. VMware’s vSphere 5 does have pricing attached to it, opposed to Microsoft’s Hyper-V which is free and integrates seamlessly into current Window OS configurations. The price for management is not free on either however, and this is where VMware seems to shine with its lower pricing structure. VMware does also offer a bundle/kit pricing where Microsoft does not currently offer that option for the Hyper-V. Virtual migration features will be the next biggest contrast between these two virtualization giants. VMware offers automated live migrations, power management, and......

Words: 479 - Pages: 2