The company had been given permission to cancel a share premium account. Changes in circumstances brought the matter back for reconsideration.
Judges:
The Lord Chief Justice Of England, Lord Justice Otton And Lord Justice Robert Walker
Citations:
[1999] EWCA Civ 1732, [1999] 2 BCLC 591, [2000] BCC 455, [1999] EWCA Civ 1732, [2000] BCC 455, [1999] 2 BCLC 591
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – British American Trustee and Finance Corporation v Couper HL 16-Apr-1894
The court considered how an unfettered discretion vested in a court should be exercised. . .
Cited – Re Chatterley-Whitfield Collieries 1948
The colliery had been nationalised at a time of very low interest rates. The court discussed the ‘reasonable expectations’ of preferential shareholders. . .
Cited – Re Saltdean Estates 1968
Preference shareholders objected to the compulsory payment-off of their shares at par. . .
Cited – Re Holders Investment Trust ChD 1971
The court considered an application to reduce the capital of the company by cancelling redeemable preference shares redeemable in 1971, in exchange for unsecured loan stock, redeemable some four to nine years later. The main issue was the propriety . .
Cited – Re Ratners Group ChD 1988
The court set out the considerations for protecting preference shareholders on the compulsory repurchase of their shares. In this case reductions of share premium account was considered in order to facilitate the writing-off of goodwill: ‘the Court . .
Cited – House of Fraser plc v ACGE Investments Limited HL 1987
Preference shareholders objected to the compulsory payment-off of their shares at par, effecting a reduction of capital by means of the paying off and cancelling of the company’s preference shares. No meeting of preference shareholders had been held . .
Cited – British and American Trustee and Finance Corporation v Couper HL 1894
There was nothing in the 1862 Act or in any other Act requiring the memorandum of a company to contain any reference to the rights of shareholders in the capital of the company inter se, and so: ‘The division of the capital into shares of a certain . .
Cited – Re Thorn EMI 1989
. .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 04 December 2022; Ref: scu.192281
