Ahimbisibwe Innocent Benjamin

The unanswered Question:  Despite the many opinions and articles on this topic, many have left a question hanging on the extent to Which Powers Of Attorney Give A Donnee, Power To Sue On Behalf Of The Donor. Can The Donnee Sue Or Defend On The Donor's Behalf? Can He Appear In Court As Claimant Or Defendant On The Donor's Behalf? A Power Of Attorney Is A Legal Document That Allows One Person To Act On Behalf Of Another. It Is Often Used In Legal, Financial, Or Medical Matters. Powers Of Attorney Can Be General Or Limited. By The Supreme Court Holding In Fredrick Zabwe V. Orient Bank (U) Ltd. SCCA No. 4/2006, It Is Imperative To Note That A Donee Of A Power Of Attorney Acts As An Agent Of The Donor And Should Do So For The Donor's Benefit. Well, More About Powers Powers Of Attorney Is Well Covered In Other Writings. In A 2021 Decision By The Supreme Court Of New York, Appellate Division Second Department In Discover Bank V. Gilliam 199 A.D.3d 645 (N.Y. App. Div. 2021), The Ba...

Winding UpWinding up is the process of dissolving a business by selling off its assets and satisfying the creditors from the proceeds of the sale. A company may wind up for different reasons amongst which are insolvency, upon satisfaction of its objects under the Memorandum, but whatever the reasons, legal procedures need to be undertaken to minimize the risk to your personal assets, estate, and credit. Here are some considerations you would need to pay attention to to shut your business down legally. Modes of Winding Up You may liquidate your company and use the company assets to pay off its debts, any money left goes to shareholders. Voluntary winding up which can either be; 1. Member’s voluntary liquidation – this is for a solvent company (can pay its debts) initiated by the company members. 2. Creditors’ voluntary liquidation – this is for an insolvent company (can’t pay its debts) initiated by members of the company after meeting the creditors of the company. Liquidation of a comp...