2. Describe, and critically evaluate, both theoretically and in practice, different regional models of corporate law & governance;
3. Operate professionally, ethically and with cultural awareness in a global corporate context.
Practical, Professional or Subject Specific Skills4. Advise on legal and regulatory matters
5. Produce a report on legal issues for a business client
Transferable/Key Skills and other Attributes.6. Work in teams to clarify objectives, exchange ideas and knowledge and evaluate the contributions of others in constructing cogent and persuasive arguments in response to the issues and problems posed;
7. Locate and synthesise information from a range of published literature and electronic sources and present this effectively in oral, written and other media;
Take responsibility for their personal learning and continuous professional development Case Study: Memorandum of Instructions From: Jane Ball (Corporate Partner)To: Ellen Collini (Associate)Date: 3rd April 2018 Westlands Group PLC As you know, one of our most important corporate clients is Westlands Investments PLC (Westlands), a long established engineering company which is quoted on the FTSE 350 on the London Stock Exchange. This morning I met with Ralph Warner, Thomas Richardson and Pranav Choudhury, respectively the Chairman, CEO and finance director of Westlands to take instructions on some extremely important issues that they are currently dealing with. They want us to prepare a detailed report for them on these issues, and have given us a strict deadline to submit the completed report so that it can be considered by the full board of directors in two weeks time. I shall require your assistance in compiling the report as I am currently committed to dealing with a number of other important matters. The issues they wish us to advise on are as follows: The Board have been concerned for a couple of years about the stagnating company profits and the rising costs associated with the business. These concerns have been exacerbated since the fall in the value of the pound following the Brexit vote, as they rely upon imported raw materials and the cost of these has increased massively over the last 18 months. At present, all of their production takes place in the UK, but they are now seriously considering closing their factory in Preston, Lancashire and moving production to a new plant in Romania. They have carried out detailed modelling which suggests that this would reduce costs by around 15%, helping improve the companys profitability. However, such a move would result in their current workforce of 1,500 in Preston losing their jobs, and there is certain to be great resistance to the move from workers and from both local and central government. They also know that there is a significant minority of shareholders who would oppose the move, having invested in the company due to its commitment to maintaining production in the UK. They are concerned that these shareholders may try to bring court action to prevent the board making a decision to move production outside of the UK, and would like to know what shareholder action may be possible and what steps the board should take to protect against the risk of such action.
The Board has also been thinking about the remuneration payable to board members and other senior executives within the company. They are concerned that they may lose highly valued staff, including possibly some Board members, as competitors generally pay more to senior staff than Westlands do. Keeping executive remuneration relatively low has always been the companys philosophy, one which the shareholders are very happy with, but the Board now feel this is no longer sustainable. They would like to know what controls are imposed on executive pay by legislation and the Corporate Governance Code, plus need advice on what powers the shareholders have to oppose and perhaps block any proposed increases.
Finally, the Board would like some advice on the role and number of executive and non-executive directors that they should have, and the extent to which any non-executive directors need to be independent.
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