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 loan to a director.
Judges:
Mr Justice Gage
Citations:
Times 27-Nov-2001
Statutes:
Companies Act 1985 330(2)(a) 340 341 342
Cited by:
Appeal from – Currencies Direct Limited v Ellis CA 31-May-2002
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 . .
Cited – Stack v AJAT-Tec Ltd EAT 8-Jul-2011
EAT JURISDICTIONAL POINTS – Worker, employee or neither
Employment Judge wrongly held that claimant could not as a matter of law be party to a contract, either of service or for services, in circumstances . .
See Also – Ellis v Currencies Direct Ltd EAT 12-Nov-2002
EAT Unfair Dismissal – Jurisdiction. . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 08 May 2022; Ref: scu.166879