ABSTRACT
Traditionally, a critical starting point in Commonwealth Caribbean corporate finance law is the premise that a limited liability company has only its share capital, often also referred to as the equity of the company, to back its credit, and that this being so, it is essential that the share capital of a limited liability company should be carefully defined and, as far as possible, retained in the business. 1 That said, more recently, an attempt to balance the traditional approach to share capital with the need to develop flexible share capital dealings which encourage investment in the equity of companies has become a common feature of corporate financing theory and practice.
