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Hely-Hutchinson v Brayhead Ltd: 1968

Directors are required to disclose their interests in contracts with the company: ”It is not contended that [the] section in itself affects the contract. The section merely creates a statutory duty of disclosure and imposes a fine for non-compliance. But it has to be read in conjunction with article [85]. The first sentence of that … Continue reading Hely-Hutchinson v Brayhead Ltd: 1968

In re Fine Industrial Commodities Ltd: ChD 1956

The Court considered the payment of interest to simple contract creditors. The company had been wound up on the ground of insolvency. In the course of the winding up the liquidators brought an action to set aside a debenture. The action was successful and the liquidator recovered sufficient funds to enable him to pay out … Continue reading In re Fine Industrial Commodities Ltd: ChD 1956