Re VGM Holdings Limited: CA 1942

In response to notorious scandals and great dissatisfaction caused by the speculative activities of asset strippers after the First World War, Parliament had decided to criminalise the giving of financial assistance by a company for the purpose of acquiring its own shares.


Lord Greene MR


[1942] Ch 235


Companies Act 1929


England and Wales

Cited by:

CitedMT Realisations Limited (In Liquidation) v Digital Equipment Co Limited CA 10-Apr-2003
The company was insolvent, depending upon loans to it from its parent company. In the liquidation, it was claimed that in a scheme for the acquisition of the shares, the assumption of liability to repay a loan amounted to unlawful financial . .
Lists of cited by and citing cases may be incomplete.


Updated: 31 July 2022; Ref: scu.181068