All this done in a week - after maddie went missing.
What type of Company is Madeleine’s Fund: Leaving No Stone Unturned Ltd?
Madeleine’s Fund: Leaving No Stone Unturned Ltd is a “Private Limited Company”. We have all heard this term at some point in time. Essentially, the Fund is a private company and the people who run it/own it, are protected by limited financial liability. Unlike the most common type of limited company, the Fund is a special type of limited company and is a “Company Limited by Guarantee”. In the case of the Madeleine Fund, this means there are no shareholders. The board of directors (or members) act like a conventional board of directors
but they have special rules which are quite different to the rules imposed on a regular private limited company. The explanations below were taken from a company that sells off the shelf companies in the United Kingdom (
http://www.ukincorp.co.uk/).
http://mccannfundfraud.info/2008/12/what-type-of-company-is-madeleines-fund-leaving-no-stone-unturned-ltd/However, it is possible to design a company where the only members are also the directors, who are thus only constitutionally accountable to one another. Such a structure may be preferred where greater stability is required without the potential for power blocs to develop within a larger membership. In this case, how the directors get to be appointed will be laid down in the articles. In some cases, directors are effectively self-perpetuating, with future directors appointed by the present ones.
