The concepts of the appointment, duties of directors as well as to whom these duties are owed together with the effects and procedure for mergers and acquisition as well as the raising of capital and winding up by companies have been subject to a long-standing debate in the country and beyond. Whereas some believe that a reformation in the Law is the only way out, others are of the opinion that these are issues that would die out with the passage of time and should therefore be left as it is. As a member of the society for black business administration students you have been invited to attend the 35th international conference on law reform with a slot to present a position paper on the subject. Cease the opportunity to clarify the position of the law in respect of the above using statutes and caselaw as your main point of reference.