Monthly Archives: August 2016

The Annual Report in Limited Liability Company

The annual report is regulated under chapter IV in Law No.40 of 2007 on Limited Liability Company (“Company Law”). The following will describe the delivery mechanism of an Annual Report to the GMS. The directors will prepare an annual report of the company and then report it to the board of commissioners to be reviewed.…
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Derivative Action in Limited Liability Company

In the Law Dictionary (Gifis, Steven H.; 1984: 129), derivative action is explained as an action or claim based on the primary right of the company, but performed by the shareholders for and on behalf of the company. This claim can be filed by the shareholders in the event of failure and losses on the…
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