Whether issue of additional shares had been properly authorised
Lord Justice Peter Gibson Mr Justice Newman Lord Justice Sedlay
[2004] EWCA Civ 1069, [2004] 2 BCLC 589, [2005] 1 WLR 1377, [2005] 1 All ER 338, [2004] BCC 814
Bailii
Companies Act 1985 35A(1)
England and Wales
Citing:
Cited – Hill v Permanent Trustee Company of New South Wales Ltd PC 1930
A bonus issue does not reduce those assets since the assets and liabilities side of the balance sheet remains unchanged but the capital and reserves side of the balance sheet is rearranged with a reduction in the amount of the profits or other . .
Cited – Re Cleveland Trust plc ChD 1991
The issue and allotment of bonus shares, once accepted by the allottee shareholder, involves a relationship between the company and the shareholder analogous to a contractual relationship. . .
Cited – Bell v Lever Brothers Ltd HL 15-Dec-1931
Contract – Mutual Mistake Test
Bell was director and chairman of Niger, a subsidiary of Lever Brothers Ltd who dismissed him, offering and paying pounds 30,000 compensation. Lever then discovered that Mr Bell had made secret profits at the expense of Niger for which he could have . .
Cited – Associated Japanese Bank (International) Ltd v Credit du Nord SA 1988
A contract of guarantee was made, but based upon a term of fundamental importance which was mistaken as to the existence of certain machines.
Held: The court must first look to the nature of the purported agreement. Steyn J said: ‘Logically, . .
Cited – Great Peace Shipping Ltd v Tsavliris (International) Ltd CA 14-Oct-2002
The parties contracted for the hire of a ship. They were each under a mistaken impression as to its position, and a penalty became payable. The hirer claimed that the equitable doctrine of mutual mistake should forgive him liability.
Held: . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 08 January 2022; Ref: scu.199804