1. For profit companies Zhanat Alimanov, assistant презентация по теме Общие темы

  • 1. For profit companies
Zhanat Alimanov, assistant professor
  • Terms
State enterprise – государственное предприятие
Business Partnerships – Хозяйственные товарищества
General Partnership – Полное товарищество
Limited Partnership – Командитное товарищество
Limited Liability Partnership (LLP) – ТОО
Corporation = Joint Stock Company – АО
General Partner – Полный товарищ
Limited partner – Вкладчик
Partner – участник
Interest - доля
  • Plan
Why is it important to know forms/types of Legal Entities?
Types of Legal Entities
Joint & Several Liability vs. Associate Liability
Business Partnerships vs. Corporation vs. Cooperative
  • Why is it important?
  • Example
Let’s assume that National Welfare Fund
“Samruk-Kazyna” contracted with US
company Maple to buy:
100, 000 computers 
at 200 UK pounds each set.
Let’s assume that SK failed to pay
20mln. pounds under the contract, and
Maple is suing for damages.
Maple insists that it produced too
many computers, and soon they
would become too outdated.
  • Example
Let’s assume that SK alleges
that Olga ex-managing director did not
have the right to sign the contract with
Maple’s managing director John.
Therefore, the contract is invalid under
art. 37 of the Civil Code.
Is it right?
Where do we look to find it out?
  • Steps to answer question:
“Did Olga have the right to sign the contract?”
Look at the Charter: What legal organization
form does it have? => it is JSC

Look at the Civil Code (art. 92): What
Statutory (обязательные) Governance Bodies
does JSC have? => it has (1)General Meeting of
Shareholders, (2) Board of directors, and 
(3) Executive Body
Look at the Charter: What position represents
Executive body? => Management Board

Look at the Corporate documents: Is Olga a
member of the Management Board? => No, i.e.,
she did not have the right to sign the contract
under art. 37, Civil Code.
  • Договор поставки товаров
АО «Фонд Национального Благосостояния
«Самрук-Казына», именуемое в дальнейшем
«Покупатель», с одной стороны, в лице
управляющего директора Ивановой Ольги
Павловны, действующей на основании
Доверенности № 234-21 от 4 января 2010, и 
Maple,plc. в лице управляющего директора
Джона Харта, действующего на основании
Устава, именуемая в дальнейшем
«Продавец», с другой  стороны,  заключили
настоящий договор о нижеследующем:
  • Договор поставки товаров

Power of attorney (доверенность) (Olga) 
vs. 
Charter 
(John Hart)


WHY IS IT SO?
  • Example


What does term 
“National Fund”
mean?
  • Example
What type of 
legal entity is it?
  • 1. Types of Legal Entities
  • 1. Types of Legal Entities
Is 
Samruk Kazyna
a state enterprise?
  • 1. Types of Legal Entities
  • 1. Types of Legal Entities
  • Important notice

Statutory
Governance Structure 
for companies!*
  • Example

Managing director of 
KazMunaiGas.

Does he have the right 
to sign contracts?
art. 37 &_
  • 2. Joint and several liability vs. Associate Liability
  • Example
Suretyship vs. Guarantee

Let’s assume that Masha
guaranteed her friend
Irina’s loan of KZT 10 mln.
to TBA bank by: 
Guarantee.

Suretyship.
  • Example
Suretyship vs. Guarantee

Irina & Masha have lost
their jobs, and Irina does not have
the money to pay back the loan.
Irina & Masha have only
apartments to secure the debt.
Irina’s apartment – KZT 9 mln; and
Masha – KZT 4 mln.
  • Example
What is Masha’s liability?

Suretyship?
Guarantee?
  • Example
What is Masha’s liability?

Suretyship – 1 mln.
Guarantee – 10 mln.
  • 2. Legal Entity = Union 
Legal Entity = Union of
People = Partnerships
Capital = Corporation
Work = Cooperative
  • 3. Business Partnerships vs. Corporation vs. Cooperative
  • 3. Business Partnerships vs. Corporation vs. Cooperative

What types of 
Business Partnerships 
are you aware of?
  • 3. Business Partnerships vs. Corporation vs. Cooperative
General Partnership
Limited Partnership
Limited Liability Partnership
Additional Liability Partnerships
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1. For profit companies Zhanat Alimanov, assistant professor

Terms State enterprise – государственное предприятие Business Partnerships – Хозяйственные товарищества General Partnership – Полное товарищество Limited Partnership – Командитное товарищество Limited Liability Partnership (LLP) – ТОО Corporation = Joint Stock Company – АО General Partner – Полный товарищ Limited partner – Вкладчик Partner – участник Interest - доля

Plan Why is it important to know forms/types of Legal Entities? Types of Legal Entities Joint & Several Liability vs. Associate Liability Business Partnerships vs. Corporation vs. Cooperative

Why is it important?

Example Let’s assume that National Welfare Fund “Samruk-Kazyna” contracted with US company Maple to buy: 100, 000 computers at 200 UK pounds each set. Let’s assume that SK failed to pay 20mln. pounds under the contract, and Maple is suing for damages. Maple insists that it produced too many computers, and soon they would become too outdated.

Example Let’s assume that SK alleges that Olga ex-managing director did not have the right to sign the contract with Maple’s managing director John. Therefore, the contract is invalid under art. 37 of the Civil Code. Is it right? Where do we look to find it out?

Steps to answer question: “Did Olga have the right to sign the contract?” Look at the Charter: What legal organization form does it have? => it is JSC Look at the Civil Code (art. 92): What Statutory (обязательные) Governance Bodies does JSC have? => it has (1)General Meeting of Shareholders, (2) Board of directors, and (3) Executive Body Look at the Charter: What position represents Executive body? => Management Board Look at the Corporate documents: Is Olga a member of the Management Board? => No, i.e., she did not have the right to sign the contract under art. 37, Civil Code.

Договор поставки товаров АО «Фонд Национального Благосостояния «Самрук-Казына», именуемое в дальнейшем «Покупатель», с одной стороны, в лице управляющего директора Ивановой Ольги Павловны, действующей на основании Доверенности № 234-21 от 4 января 2010, и Maple,plc. в лице управляющего директора Джона Харта, действующего на основании Устава, именуемая в дальнейшем «Продавец», с другой стороны, заключили настоящий договор о нижеследующем:

Договор поставки товаров Power of attorney (доверенность) (Olga) vs. Charter (John Hart) WHY IS IT SO?

Example What does term “National Fund” mean?

Example What type of legal entity is it?

1. Types of Legal Entities

1. Types of Legal Entities Is Samruk Kazyna a state enterprise?

1. Types of Legal Entities

1. Types of Legal Entities

Important notice Statutory Governance Structure for companies!*

Example Managing director of KazMunaiGas. Does he have the right to sign contracts? art. 37 &_

2. Joint and several liability vs. Associate Liability

Example Suretyship vs. Guarantee Let’s assume that Masha guaranteed her friend Irina’s loan of KZT 10 mln. to TBA bank by: Guarantee. Suretyship.

Example Suretyship vs. Guarantee Irina & Masha have lost their jobs, and Irina does not have the money to pay back the loan. Irina & Masha have only apartments to secure the debt. Irina’s apartment – KZT 9 mln; and Masha – KZT 4 mln.

Example What is Masha’s liability? Suretyship? Guarantee?

Example What is Masha’s liability? Suretyship – 1 mln. Guarantee – 10 mln.

2. Legal Entity = Union Legal Entity = Union of People = Partnerships Capital = Corporation Work = Cooperative

3. Business Partnerships vs. Corporation vs. Cooperative

3. Business Partnerships vs. Corporation vs. Cooperative What types of Business Partnerships are you aware of?

3. Business Partnerships vs. Corporation vs. Cooperative General Partnership Limited Partnership Limited Liability Partnership Additional Liability Partnerships

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