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BRUSSELS REAFFIRMS THE LEGALITY OF THE TPO AND THE TPI FIFA RULES.

Recently, the Court of Appeal of Brussels dismissed the appeal filed by Doyen Sports Investments and the Belgian club, F.C. Seraign, questioning the illegality of the FIFA rules regarding Third Party Ownership (TPO) and Third Party Influence (TPI). Said rules establish that: a) TPO: No club or player may sign a contract with a third party which concedes to a…

THE LIMITATIONS OF RESPONSIBILITY OF COMPANY DIRECTORS. GROUNDS FOR THE WINDING-UP OF A LIMITED LIABILITY COMPANY.

A judgment issued on 8th November 2019 by the Supreme Court outlines the limitations of the joint and several responsibility of the directors of a limited liability company when the obligation for winding-up the company within the legal deadline is not fulfilled. The case referred to the responsibility of a director of a limited liability company from which a creditor…

DESIGNATION OF A NATURAL PERSON BY A LEGAL ENTITY DIRECTOR – ACCEPTANCE OF DESIGNATION

The decision of the General Directorate of Registries and Notaries (Dirección General de Registros y Notariado  – “DGRN”) of 20th September 2019 ruled upon the need for the acceptance of the power of attorney granted to a natural person by the director of a company, which is a legal entity, for registration at the Commercial Registry. In summary, the facts…