In 1893 a scheme of reconstruction which adjusted the rights of the preference and the ordinary shareholders was promoted, and in the following year was approved by the court. But it appeared that the scheme had never been approved by a quorate meeting of either class. The scheme was implemented.
Held: The contention that the class resolutions were a nullity owing to the absence of a quorum, would have been correct, apart from the circumstances of ratification and estoppel.
Judges:
Pennycuick J
Citations:
(1967) 111 SJ 715
Cited by:
Cited – Grender and others v Dresden and others ChD 13-Feb-2009
Residents on an estate where the estate roads had come into the control of a trust administered by the residents disputed the arrangement necessary to manage the road scheme. Directions were sought for the implementation of a scheme.
Held: . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 06 May 2022; Ref: scu.471157
