Offshore Banking with a Swiss Bank Account and Nevis LLC

Defense of 14. No act of a corporation and no transfer of real or personal
ultra vires property to or by a corporation, otherwise lawful, shall be invalid
by reason of the fact that the corporation was without capacity or
power to do such act or to make or receive such transfer, but such lack
of capacity or power may be asserted:
(i) In an action by a shareholder against the corporation to
enjoin the doing of any act or the transfer of real or
personal property by or to the corporation. If the
unauthorized act or transfer sought to be enjoined is being,
or is to be, performed or made under any contract to which
the corporation is a party, the court may, if all of the parties
to the.contract are parties to the action and if it deems the
same to be equitable, set aside and enjoin the performance
of such contract, and in so doing may allow to the
corporation or to the other parties to the contract, as the
case may be, such compensation as may be equitable for
the loss or damage sustained by any of them from the
action of the court in setting aside and enjoining the
performance of such contract; provided that anticipated
profits to be derived from the performance of the contract
shall not be awarded by the court as a loss or damage
sustained:
(ii) In an action by the corporation, whether acting directly
or through a receiver, trustee, or other legal representative,
or through shareholders in a derivative suit against the
incumbent or former officers or directors of the corporation
for loss or damage due to their unauthorized act; and
(iii) In a proceeding by the High Court to dissolve the
corporation, or to enjoin it from the doing of unauthorized
business.