Tag Archives: majority owner

ILN Today Post

Company managers on the blacklist

Many people could be in for a nasty surprise when trying to set up a company: the company court refuses to register the majority owner or managing director on grounds that the person is subject to a ban. While the banned persons sometimes know that they have “been up to no good”, in other cases they are baffled as to the reasons for the ban. A lot is at stake: a person who is banned could end up on the “black list” for up to 7-8 years.

Anyone who is irresponsible, acts in bad faith or is negligent should not be a manager or majority shareholder of a company – this sums up the message of the laws on creating and maintaining blacklists. These rules, however, are somewhat multifarious, and it seems that they are sometimes stricter than is desirable. This can lead to some very unpleasant situations.

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