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SimonisaformeremployeeofRubberLtd.,aninternationalenergycompanyincorporatedinHongKong.HewasrecruitedtoworkasanaccountantatRubberLtd.10yearsagoand,althoughoriginallybasedinHongKong,hespentmostofthe10yearsworkinginminesinvariouscountriesinAfrica.HavingrecentlyretiredbecauseofillhealthandreturnedtoHongKong,Simonhasdiscoveredthathishealthproblemsarerelatedtoexposuretodangeroussubstancesinthecourseofhisemployment.RubberLtd.istheparentcompanyofRubber(SouthAfrica)Ltd.andhasrecentlycompletedariskassessmentstudyofallitsoperations.TheassessmentidentifiedRubber(SouthAfrica)Ltd.asbeingahighriskfinanciallytoRubberLtd.onthebasisofRubber(SouthAfrica)Ltd.'staxliabilityanditsexposuretohugeamountofpotentiallitigation,suchasthatofSimon.ThereportalsonotesthatRubberLtd.couldhavereduceditsfinancialriskexposurebyremovingalltheassetsfromRubber(SouthAfrica)Ltd.andclosingitdown.Havingcheckedhisemploymentcontracts,SimonhasfoundthathewasemployedinAfricabyRubber(SouthAfrica)Ltd,awhollyownedsubsidiaryofRubberLtd.,whichhassubsequentlygoneintoinsolventliquidation.SimonhasalsodiscoveredthatRubberLtd.isdirectlyresponsibleforthesafetypolicyofallitssubsidiariesandthatanumberofdirectorsofthetwocompanieswerethesamepeople.AdviseSimon.

SimonisaformeremployeeofRubberLtd.,aninternationalenergycompanyincorporatedinHongKong.HewasrecruitedtoworkasanaccountantatRubberLtd.10yearsagoand,althoughoriginallybasedinHongKong,hespentmostofthe10yearsworkinginminesinvariouscountriesinAfrica.HavingrecentlyretiredbecauseofillhealthandreturnedtoHongKong,Simonhasdiscoveredthathishealthproblemsarerelatedtoexposuretodangeroussubstancesinthecourseofhisemployment.RubberLtd.istheparentcompanyofRubber(SouthAfrica)Ltd.andhasrecentlycompletedariskassessmentstudyofallitsoperations.TheassessmentidentifiedRubber(SouthAfrica)Ltd.asbeingahighriskfinanciallytoRubberLtd.onthebasisofRubber(SouthAfrica)Ltd.'staxliabilityanditsexposuretohugeamountofpotentiallitigation,suchasthatofSimon.ThereportalsonotesthatRubberLtd.couldhavereduceditsfinancialriskexposurebyremovingalltheassetsfromRubber(SouthAfrica)Ltd.andclosingitdown.Havingcheckedhisemploymentcontracts,SimonhasfoundthathewasemployedinAfricabyRubber(SouthAfrica)Ltd,awhollyownedsubsidiaryofRubberLtd.,whichhassubsequentlygoneintoinsolventliquidation.SimonhasalsodiscoveredthatRubberLtd.isdirectlyresponsibleforthesafetypolicyofallitssubsidiariesandthatanumberofdirectorsofthetwocompanieswerethesamepeople.AdviseSimon.

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