The claimant company appealed against an order declining to order repayment of sums they claimed to be due from the defendant, a former director of the company. They said the payments were repayable loans, and he said that they had been been remuneration and irrecoverable. The defendant appealed against the order that some sums were … Continue reading Currencies Direct Limited v Ellis: CA 31 May 2002

The fact that a loan to a director was unlawful did not prevent a company seeking to recover or enforce the loan. A transaction made in contravention of section 330 was voidable at the instance of the company. The implication of section 341 was that public policy did not prevent a company from recovering a … Continue reading Currencies Direct Ltd v Ellis: QBD 19 Oct 2001