A share in a company should be thought of as a bundle of rights, which had existence in virtue of the company’s articles. Equity could not recognise or give effect to a transaction in relation to such a bundle of rights which, by their nature did not admit of that transaction and of which nature the parties had notice.
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The process of distraint against a company’s goods by the Revenue for recovering unpaid tax was not an “execution” within the meaning of section 183 of the Insolvency Act 1986 and thus did not operate to make the distrained goods available as assets for distribution to the company’s creditors on a subsequent liquidation.
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Where dividends were paid to directors of a company in contravention of section 263(1) of the Companies Act 1985, the directors were required to know or have reasonable grounds to believe not just the facts which gave rise to the contravention, but the legal result of that contravention for liability for repayment to arise under section 277(1) of the Act.
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Where a voting agreement had given a shareholder an absolute discretion in the manner in which it chose to raise funds, on a new issue of shares the shareholder had a right to choose investors including itself and others and a right to waive pre-emption rights in the company's articles. The voting agreement imposed no fiduciary duties on the shareholder in relation to the selection of investors and the subsequent issue of shares.
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A solicitor's retainer had been wider than just the conduct of litigation in which his client had been involved and he had negligently failed to advise his client about the need to raise a dispute about the quantum of the counterclaim as a defence.
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An intermediary in the petrochemicals industry, whose role was to introduce contractors to its principal's products, was a commercial agent within regulation 2 of the Commercial Agents (Council Directive) Regulations 1993 despite the fact that it had no authority to negotiate the sale of valves in the sense that it was not empowered to agree terms or pricing.
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The rule which prevented an enemy national, resident in the enemy country from bringing an action in an English court applied only when there was a state of war in the technical sense.
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Interim injunctive relief: In the circumstances, a judge had been entitled to grant an interim injunction prohibiting the use of an area of public highway for market trading activities. If the circumstances arose that the value of the interim injunction expired before the matter came to trial it would then be a commercial decision for the parties whether or not to proceed to trial.In the circumstances a judge had been entitled to grant an interim injunction prohibiting the use of an area of publ ...
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An administrator's liabilities to employees of a company in administration for protective awards and payments in lieu of notice were not payable in priority to administration expenses pursuant to paragraphs 99(4) to (6) of Schedule B1 to the Insolvency Act 1986 save for any payments in lieu falling within the first category in Delaney v RJ Staples.
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Proceedings in Korea issued by a bank under the terms of a letter of credit and a letter of indemnity were bound to fail since the English court had been seized of jurisdiction, however, an anti-suit injunction would not be made in favour of an exporter since it could not be said that tortious elements of the claim in Korea were bound to fail.
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