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{
    "id": 45814,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/45814/?format=api",
    "text_counter": 241,
    "type": "speech",
    "speaker_name": "Mr. Wako",
    "speaker_title": "The Attorney-General",
    "speaker": {
        "id": 208,
        "legal_name": "Sylvester Wakoli Bifwoli",
        "slug": "wakoli-bifwoli"
    },
    "content": "Mr. Deputy Speaker, Speaker, Sir, another thing which the current company law does is to withhold information. This sort of shields the directors to such an extent that they even mismanage a company completely. There have been cases where a number of creditors could not be paid and so on, or the directors they knew that the company was insolvent, nevertheless they continued doing business as if the company was not insolvent and incurred more debts and so on. This new law provides that the veil must be pierced. Such people will not hide behind the shield of a body corporate and hide away their properties. They will be held personally liable for the debts of the company, if it is so proved."
}