An unregistered friendly society was dissolved. The governing instrument provided that the votes should be counted according to value, and that a vote of five sixths of such members by value were need to dissolve the company. Members claimed to be allowed a proprotion of the sums realised on dissolution also according to their value.
Held: The presumption was that the assets should be divided equally. The arrangements for voting were insufficiently connected to raise any implication to the contrary. The constitution had merely imported wording from the 1896 Act.
Judges:
Peter Smith J
Citations:
Times 27-Aug-2003, Gazette 18-Sep-2003, [2003] EWHC 2089 (Ch).
Statutes:
Friendly Societies Act 1896 78(2) 70(6)
Jurisdiction:
England and Wales
Citing:
Cited – In re Bucks Constabulary Widows and Orphans Fund Friendly Society (No 2) 1979
In the absence of any contractual obligation otherwise, the funds of a mutual society must be distributed equally on a dissolution. . .
Cited by:
Cited – Hunt and Another v McLaren and others ChD 4-Oct-2006
Land had been given to a football club under a trust for its exclusive use as such. That land was sold and a new ground acquired and a stadium built, but the land was subject to restrictive covenenats limiting its use to sports, which considerably . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 29 April 2022; Ref: scu.185826