Leung Tsang Hung and Lee Wai Yu v. The Incorporated owners of Kwok Essay

Leung Tsang Hung and Lee Wai Yu v. The Incorporated owners of Kwok Wing House, HKSAR FACV42007 - Essay Example Madam Liu died and it was found that the 15 lbs. triangular piece of concrete came from Kwok Wing House and fell from Flat A on the 11th floor and it formed the corner of a concrete canopy which is projecting out from over the enclosed balcony of the flat, before it had been detached and fallen down into the street ("Case Alert: Case 2 (FACV4/2007)," 2008; and "Leung Tsang Hung and Lee Wai Yu v. Incorporated Owners of Kwok Wing House FACV4/2007," 2007). The tenant as well as the incorporated owners was sued in negligence and public nuisance. And they were held liable for the case. The First Instance Judge as well as the Court of Appeal had dismissed the claim against the Incorporated Owners ("Case Alert: Case 2 (FACV4/2007)," 2008). The Court of Final Appeal handed down the decision on the case on October 26, 2007 and the case has clearly laid down the responsibilities as well as liabilities of the incorporated owners in relation to common areas and illegal structures of the building. They were also held responsible for the Death of Madam Liu. In August 1999, Madam Liu was plying her trade as a hawker in Tung Choi Street, when she met was struck by a falling piece of concrete coming from adjacent building, known as Kwok Wing House and as a consequence, she died. ... e decision on the case on October 26, 2007 and the case has clearly laid down the responsibilities as well as liabilities of the incorporated owners in relation to common areas and illegal structures of the building. They were also held responsible for the Death of Madam Liu. 3. Facts A. Factual events leading up to the case In August 1999, Madam Liu was plying her trade as a hawker in Tung Choi Street, when she met was struck by a falling piece of concrete coming from adjacent building, known as Kwok Wing House and as a consequence, she died. That piece of concrete fell from Flat A on the 11th floor of the said building, which formed a corner of a concrete canopy projecting out from the enclosed balcony of the flat. Tenant of the flat and incorporated owners were sued in negligence and public nuisance. The tenant and owners of the flat were held liable, however, the first Instance Judge and Court of Appeal had dismissed the claim against the Incorporated Owners so, the plaintiffs appealed to the Court of Final Appeal ("Case Alert: Case 2 (FACV4/2007). Accident's Cause There was a canopy protruding from outer wall of the premises on top of the building to which someone added the extended canopy and converted the open balcony beneath as part of the covered space inside the premises. From that extended canopy the fatal concrete fragment fell. No evidence found when was the extended canopy erected and who was responsible for it and it could have been erected in 1964, soon after occupation permit was issued and before the sale of the said premise to its first owner. Investigation report of Building Authorities implies that the extended canopy was cast against the approved canopy with roughened joint however, connecting steel reinforcement and spanned between the

Corporate Governance Degree Essay Example | Topics and Well Written Essays - 2000 words

Corporate Governance Degree - Essay Example Corporate governance is the collection of laws, rules and ways that regulate the interactions and relationships between the owners i.e. capital providers, the governing body i.e. the board or boards in the two-tier system), senior managers and other people that take part in the decision making process and are affected by the dispositions and business activities of the company. Corporate governance exists in its own space. It shows the economic, historical, cultural and legal characteristics of a nation along with its business history and corporate sector. It is shaped by the ownership structures, ways of that particular economy and the available financing options. It includes the role of the financial markets, the banking and insurance sectors and the government in the form of shareholders and capital providers in some nations. "Corporate governance deals with the ways in which suppliers of finance to corporations assure themselves of getting a return on their investment", says Andrei Shleifer and Robert W. Vishny. The system of corporate governanc... hich may occur because different board structures are associated with different arrangements for establishing executive pay (Schwalbach, Joachim, Conyon, Martin J., 2000). Variations present in these areas shows some of the considerable differences among all the governance models. Corporate governance has inevitable relationship with the ownership, control structures and patterns prevalent in an economy, adds Miguel A. Mendez. Eventuating ownership and explaining the agency factor i.e. the owners of the firm hire managers in order to control and manage the assets of the firm is an internal feature of the firm and central to every corporate governance model. "Britain and the US are viewed as similar enough to contrast with Japan and Germany, the benefits of external shareholding, capital markets and the profit-motive competing with committed investors, insider control and the mixed objectives of several stakeholders", says Robert Fitzgerald and Etsuo Abe (Fitzgerald and Abe, 2004). The role of Openness and Efficiency The space of the board i.e. its freedom to execute a judgment in the motive of the benefit of all shareholders and can be defined on behalf of all stakeholders is both inevitable as well as crucial. The freedom of the governing body depends on the way it is organized including the factors like who are the chairman of the board and the top-most leadership positions of other crucial genre like chairmanship of nomination and audit committees, vice-chairmanship, and managing directorship. It also depends upon the composition