Riquito Advogados
In the midst of a global economic crisis of proportions unseen for generations, the financial woes of many businesses have become such that today, the pursuit of survival has taken the place of the pursuit of profit. Come the time for yearly accounting, companies based in the Macau SAR may be faced with a situation where their net value has decreased to such a level that the law mandates immediate action. Such is the case of Article 206 of the Commercial Code, the terms and provisions of which stipulate that, should the board of directors verify through the annual accounts that the company’s net value is lower than half of its share capital, it is compelled under the penalty of criminal law to submit for approval by the shareholders a resolution which embraces one of the three solutions set forth by the legislator.
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Sponsored by Riquito AdvogadosContractual relations between governments and the private sector are usually dictated by a strict set of rules and regulations, that are set in place as an assurance that the public interest is protected and that the public procedures are transparent and subject to the necessary advertising and competitive tendering requirements. In this context, the exceptional public health situation we are living in represents a true game changer, posing challenges to the existing legal frameworks and imposing upon governments the task to quickly adapt the regulatory system to provide answers to the ever evolving pandemic situation. -
Sponsored by Riquito AdvogadosLawyers from Riquito Advogados explain how companies can continue to engage with shareholders in spite of local lockdowns and travel bans
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Sponsored by Riquito AdvogadosAny assessment of the overall impact of the SARS CoV2 outbreak, also known as coronavirus, on global and local economies and, generally, on nearly any issue of relevance for all countries and regions, would be premature and would likely turn out to be no more that futurology. However, it is already obvious that there are significant and measurable direct and indirect implications on legal markets and systems around the world.
