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If a company is unable to pay its debts as they fall due, UK insolvency law requires an administrator to attempt a rescue of the company (if the company itself has the assets to pay for this). If rescue proves impossible, a company's life ends when its assets are liquidated, distributed to creditors and the company is struck off the register.
The Companies Act 2006 (c. 46) is an act of the Parliament of the United Kingdom which forms the primary source of UK company law. The act was brought into force in stages, with the final provision being commenced on 1 October 2009.
Company constitution, arbitration Hickman v Kent or Romney Marsh Sheep-Breeders’ Association [1915] 1 Ch 881 is a UK company law case, concerning the proper interpretation of a company's articles, and whether a company member could be bound by its terms.
The Companies Act 1862 [1] (25 & 26 Vict. c. 89) was an Act of the Parliament of the United Kingdom regulating UK company law, whose descendant is the Companies Act 2006. Provisions [ edit ]
It is the creature, the puppet, of Littlewoods, in point of fact: and it should be so regarded in point of law. The basic fact here is that Littlewoods, through their wholly owned subsidiary, have acquired a capital asset — the freehold of Jubilee House: and they have acquired it by paying an extra £19,006 a year.
Scottish Co-operative Wholesale Society Ltd v Meyer [1959] AC 324 is a UK company law case, concerning the predecessor of the unfair prejudice provision, an action for "oppression" under section 210 of the Companies Act 1948 (now section 994 of the Companies Act 2006).
This was a contentious opinion, and most academic treatises view the law to be that in fact a majority shareholder may by ordinary resolution bring litigation. This is seen to follow implicitly from the rule in Foss v Harbottle, and the House of Lords judgment in Alexander Ward v Samyang. [1]
It introduced the power of the court to make a disqualification order prohibiting a person from being concerned in the management of a company was introduced by section 75. This was subsequently consolidated as section 275 of the Companies Act 1929 and based on the recommendation of the Report of the Company Law Amendment Committee (1925-1926 ...