Advancing towards a more effective stakeholder engagement by multinational companies in Nigeria

by | Oct 8, 2019 | JCLA, JCLA V6 I1 2019

Advancing towards a more effective stakeholder engagement by multinational companies in Nigeria

Authors Kunle Aina

ISSN: 2521-2605
Affiliations: Reader in Law, Faculty of Law, University of Ibadan
Source: Journal of Comparative Law in Africa, Volume 6 Issue 1, p. 55 – 84

Abstract

Stakeholder engagement and reporting on non-financial issues enable the company to demonstrate that it understands the concerns of society and explain how it is addressing them. Social and environmental policies are currently incoherent, haphazard and without regulation in Nigeria. This paper examines stakeholder engagement as an offshoot of sustainable governance which is a concept whereby companies integrate social and environmental concerns in their business operations and their interactions with their stakeholders on a voluntary basis. The ongoing social upheavals in the Niger Delta Region of Nigeria are an attestation of failure of effective stakeholders’ engagement by the multinational companies (MNCs), This paper examines the concept of stakeholder engagement as a solution to these conflicts, its importance to sustainable corporate governance and the global practice and standards. This paper further appraises the adequacy of the current laws, regulations, policies and practice for regulating stakeholder engagement by MNCs in Nigeria. A mandatory legal, more effective disclosure regime and regulations of stakeholder engagement is advocated.

A critical appraisal of law reform in Cameroon: Pluralism and harmonisation of laws

by | Oct 8, 2019 | JCLA, JCLA V6 I1 2019

A critical appraisal of law reform in Cameroon: Pluralism and harmonisation of laws

Authors Mikano Emmanuel Kiye

ISSN: 2521-2605
Affiliations: Lecturer, Department of English Law, University of Buea, Cameroon
Source: Journal of Comparative Law in Africa, Volume 6 Issue 1, p. 28 – 54

Abstract

This paper, through conceptual and practical analyses, unravels the challenges posed to the Cameroonian legal system by the existence of multiple and divergent values. It addresses the challenges associated with law reform in the polity and advocates for an alternative approach to reform, which is holistic and practical in nature. Cameroon’s legal system is mostly a relic of colonialism and consists of multiple divergent values that interact with each other. Among these values are civil law derived from France, common law received from England and customary law that has, hitherto, been in existence prior to colonialism. The differences between these values are insurmountable, and have led to tensions and frictions which have, in turn, made incidences of conflict of laws and forum shopping inevitable. The situation is compounded by the fact that, although being a unitary state, the laws are applicable in the entity as if it consisted of several different territories. While acknowledging the laudable initiatives toward reform, the paper questions the rationality and objectivity underlying the policies adopted, consisting mostly of the harmonisation of received laws and the restriction of customary jurisdiction. Law reform has been problematic: harmonisation is at the verge of establishing a uni-jural system founded on civil laws; restriction of customary jurisdiction has fragmented the legal process; and law reform has failed to completely eradicate conflict of laws and forum shopping. The paper calls for alternative approaches that, among others, equally reflect the country’s inherited traditions while also strengthening the role of customary law.

Proxy statements under Maryland Law – 2015

by | Oct 8, 2019 | JCCL, JCCL V1 I2

Proxy statements under Maryland Law – 2015

Authors James J Hanks Jr, Michael A Leber

ISSN: 2521-2575
Affiliations: Partner, Venable LLP, Baltimore, MD; Partner, Venable LLP and a member of the firm’s corporate group
Source: Journal of Corporate and Commercial Law & Practice, The, Volume 1 Issue 2, 2015, p. 95 – 109

Abstract

None

Domestic employees to be furnished with a copy of an application for sequestration of the employer’s estate. Will it always be possible? Stratford v Investec 2015 (3) SA 1 (CC)

by | Oct 8, 2019 | JCCL, JCCL V1 I2

Domestic employees to be furnished with a copy of an application for sequestration of the employer’s estate. Will it always be possible? Stratford v Investec 2015 (3) SA 1 (CC)

Authors Tshegofatso Kgarabjang

ISSN: 2521-2575
Affiliations: Senior Lecturer, College of Law, Unisa
Source: Journal of Corporate and Commercial Law & Practice, The, Volume 1 Issue 2, 2015, p. 82 – 94

Abstract

None

Are shareholders exclusive beneficiaries of fiduciary obligations in South Africa? The role of fiduciary obligations in the 21st Century

by | Oct 8, 2019 | JCCL, JCCL V1 I2

Are shareholders exclusive beneficiaries of fiduciary obligations in South Africa? The role of fiduciary obligations in the 21st Century

Authors Brian Peter Lee Jennings

ISSN: 2521-2575
Affiliations: Director at ENSafrica
Source: Journal of Corporate and Commercial Law & Practice, The, Volume 1 Issue 2, 2015, p. 54 – 81

Abstract

This paper investigates and evaluates the existing South African common law position of to whom directors owe their duties, in light of the transformative requirements of the Constitution. Unsurprisingly, the South African legal position largely mirrors the position found within Anglo-American jurisdictions, on which our company law is based. But whether this is justified, or warranted, in a post-constitutional South Africa, which values equality, dignity and freedom as being paramount, is the subject of this paper. This paper will attempt to address the question whether South Africa’s Constitution, and the recently promulgated 2008 Companies Act, appropriately balances the competing ideological tensions found within South African society. In undertaking this balancing act, one will consider whether the Companies Act gives effect to the most appropriate ideology in the most appropriate circumstances, to give effect to the constitutional values of dignity, equality and freedom. The hypothesis at the forefront of this paper is that the legal interpretation of the beneficiary of the duties owed by directors in South Africa must be revisited in a post-constitutional environment, in the very least. That revisiting must be dependent on the company to whom the rule is being applied, and its position in society. This will, in turn, determine the most appropriate theory (from a legal, socio-economic and philosophical point of view) to apply to determine to whom such company’s directors owe their duties.