There had been no unlawful distribution under a shareholders’ agreement where quasi-partners were given a share of future earnings for contracts initiated by them before retirement in proportion to previous stake in the company. A director ought to be relieved against a failure to declare an interest in a contract where: ‘No amount of formal disclosure by each to the other would have increased the other’s relevant knowledge.’
Judges:
Ferris J
Citations:
Times 01-Mar-1999, [1999] 2 BCLC 203
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – Ultraframe (UK) Ltd v Fielding and others ChD 27-Jul-2005
The parties had engaged in a bitter 95 day trial in which allegations of forgery, theft, false accounting, blackmail and arson. A company owning patents and other rights had become insolvent, and the real concern was the destination and ownership of . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 28 April 2022; Ref: scu.83290
