Related parties transactions under Lebanese law (with comparative references to the UAE Law)
Saba K. Zreik, Chief Legal Officer, Future Pipe Industries Group Limited, DIFC-Dubai, UAE
A man cannot serve two masters. One will invariably take a free ride at the expense of the other. A company manager is the custodian of his company’s assets. He is morally and statutorily required, not only to protect these assets, but moreover to fructify them and enhance the company’s value. Unfortunately, some unscrupulous managers and/or controlling shareholders tend to have their own personal interest prevail over the interest of the entity they manage and/or control, by reverting to self-dealing transactions that enrich them and impoverish their company.
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