duties of the deceased director and can keep the company running until shares are transferred to beneficiaries who may then appoint new directors if they wish. As mentioned above, the executor is ordinarily and most efficiently appointed by means of a valid will. Where there is no will, however, a near relative or other person would have to apply to the local Supreme Court for letters of administration to manage the estate and this could take some time- possibly weeks if not months. Alternatively, in the absence of any immediate relatives or other obvious people to deal with the estate, the Public Trustee may step in and administer the deceased estate but this process can also take months. During that period when there is no director, the company may be completely unable to operate. With no-one properly authorized to make management decisions or act for the company, it may be unable to trade. Banks and other financial institutions in particular may be unwilling to accept instructions in relation to a company's trading account if they are not satisfied there is someone properly authorized to act for it. Equally, staff and suppliers may not be able to be paid, which can quickly have a deleterious effect on the reputation and value of the company to the beneficiaries of the estate. If, on the other hand, a person is willing to purchase the company, they may not be able to do so quickly because there will be no recognized owner of the