Airsync Ltd has just won a technology start-up competition in Nigeria. A local angel investor, impressed by their product’s potential, offered to invest N10 Million in the concept. The parties agree to register a new company. The founders would bring their ideas and expertise, and the Investor would bring the […]
BECOMING A MARKET LEADER
For over 10 years, I have had the privilege of working as a consultant for some of the best companies in Nigeria. In that time, I have become fascinated with those companies, large and small, that are able not only to achieve success, but sustain that success over time and […]
FINANCIAL DISTRESS: PREDICTION, PREVENTION AND CURE
A company can be likened to a human body. Financial distress and corporate collapse is usually dramatized in the media as a sudden occurrence, but this is almost never the case. There is usually ample warning of impending doom, but many companies either ignore the warning signals or try to […]
A History of Insolvency Law
Early insolvency law was dominated by punitive approaches and it was not until the early eighteenth century that notions of rehabilitation gained force. Insolvency was seen as an offence little less criminal than a felony and was punishable by detention in person at the creditor’s pleasure in debtors prisons. The […]
WHEN IS A COMPANY INSOLVENT?
Insolvency refers to the regulated legal process that ensues upon the bankruptcy of a company. Insolvency laws prevent a chaotic race to protect interests would take place and this might produce inefficiencies and unfairness
What are the Duties of an Employer?
An employer is a person or other legal entity that controls and directs the actions of another person, called a worker or employee under an express or implied contract of employment and pays (or is obligated to pay) him or her salary or wages in compensation. The employer has duties […]
CAN YOU LEGALLY PAY YOUR STAFF WITH BITCOIN?
Did you know that some businesses are paying their employees in Bitcoin and other cryptocurrencies? The rise of cryptocurrencies and other digital currencies appears to have expanded the definition of money and has created a conversation around the role of central banks and other regulators. A cryptocurrency is a digital […]
Sexual harassment 101: what everyone needs to know
The aftermath of the Harvey Weinstein revelations has unearthed a depth of ignorance around the whole issue of sexual harassment. There has been the routine conflation with assault and then panicky addition of “alleged” to the end of every sentence, along with wild assumptions about its rarity and triviality. For […]
Training Bonds: How do they work
Captain Dan is a pilot who was formerly in the employment of Highland Airways Ltd. A year before his resignation, the company expended substantial amounts of money in sponsoring 2 specialised trainings for Captain Dan in order to improve his skills and increase the number of planes he could fly. […]
What Rules should guide probationary periods?
New employees are often subject to probationary periods during which their suitability for employment is evaluated. These are defined periods of time (which are often for three months but can be longer) that are established at the beginning of employment. This period often provides an employer the ability to terminate […]