You may have noticed in recent days a frost had fallen on Corporate Blawg's blog. The February winds from the East brought snow, ice and slush to Corporate Blawg's door. The gateway to the internet creaked and groaned, as Corporate Blawg warded off new visitors with no new posts.
After six months of keen blogging, Corporate Blawg was tired, and needed a break. He had to consolidate, regroup and fortify himself. Like St Benedict, Corporate Blawg retreated from public life, to internalise his burning belief in his vocation. For days, nearly two weeks, Corporate Blawg stoked his fire alone, muttering the mysteries of corporate law to the birds and the fishes, and any inanimate object which would not answer back.
This time of great fasting quickened his corporate digestion. The watermark was rising again, and Corporate Blawg set about brewing his mindful liquor for renewed and rigorous libations to his corporate master.
In moments of solace, and peaceful reflection, Corporate Blawg reaffirmed his belief in the corporate dream. The defining moment occurred on Thursday when Corporate Blawg turned to redemption, the redemption of shares. Redemption was not found through conversion but within the constitution, the core. Redeemable shares were born, had to be issued, that way.
So the metaphor of corporate law began again, as we too can only find our redemption in our origins, at our beginnings. Whether muslim, buddhist, christian or aetheist, our deliverance from sin, or forgiveness of a guilty conscience, starts in earnest from the earliest application of forgiveness. These tools in our constitutions may be our first religious faith, or the first time we really felt sorry and said it. That was when we were welcomed back into the light, like an issued redeemable share returning to the authorised share capital form where it originated. And in our practical daily lives we find that redemption in work can only come from diligent triple-checking and questioning every assumption.
As the winds began to calm, and the snow melt, Corporate Blawg emerged from his meditation and once again opened his door to the world. And what should be the first sight he saw, but this:
Overwhelmed by the beauty of this vision on his walk to work, Corporate Blawg remembered the purpose behind his blog, he remembered how he wanted to show the world the beauty in the mechanics of contracts, the aesthetics of interlocking agreements and water-tight risk ring-fencing. Ultimately, the lawyer's application of corporate law to his clients' needs should be like flowers blooming in the snow.
To commence this return, Coporate Blawg brings to your attention the wonderful wording of s.684(4) of the new Companies' Act 2006 which states that "No redeemable shares may be issued at a time when there are no issued shares of the company that are not redeemable." These words mirror the Companies' Act 1985 almost exactly. Corporate Blawg find triple negatives an interesting concept, and rather poor use of English.
Corporate Blawg suggests that better wording, clearer wording, more accessible plain English wording would be "Redeemable Shares may only be issued when non-redeemable shares also form part of the Company's issued share capital." This is the positive approach, like Corporate Blawg, and his positive application of legal expertise.
And so, for now, the valediction of this post is that Corporate Blawg is here to stay, and if ever Corporate Blawg seems quiet or distant, it is because he is thinking, savouring, enjoying and learning. Corporate Blawg is but one person, and wishes only to write well of corporate law, and learn much from his endeavours.
With a wink and pinch, Corporate Blawg states that his postings will not be often and many, but few and powerful. Corporate Blawg's blogging maxim is that "too many posts spoil the blog."