Boardman V Phipps
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Boardman V Phipps
''Boardman v Phipps'' 966UKHL 2is a landmark English trusts law case concerning the duty of loyalty and the duty to avoid conflicts of interest. Facts Tom Boardman, Baron Boardman, Mr Tom Boardman was the solicitor of a family trust.See the case report at 9672 AC 46 The trust assets include a 27% holding in a company (a textile company with factories in Coventry, Nuneaton and in Australia through a subsidiary). Boardman was concerned about the accounts of the company, and thought that to protect the trust a majority shareholding is required. He and a beneficiary, Tom Phipps, went to a shareholders' general meeting of the company. They realised together that they could turn the company around. They suggested to a trustee (Mr Fox) that it would be desirable to acquire a majority shareholding, but Fox said it was completely out of the question for the trustees to do so. With the knowledge of the trustees, Boardman and Phipps decided to purchase the shares themselves. They bought a m ...
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House Of Lords
The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminster in London, England. The House of Lords scrutinises bills that have been approved by the House of Commons. It regularly reviews and amends bills from the Commons. While it is unable to prevent bills passing into law, except in certain limited circumstances, it can delay bills and force the Commons to reconsider their decisions. In this capacity, the House of Lords acts as a check on the more powerful House of Commons that is independent of the electoral process. While members of the Lords may also take on roles as government ministers, high-ranking officials such as cabinet ministers are usually drawn from the Commons. The House of Lords does not control the term of the prime minister or of the government. Only the lower house may force ...
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Lord Upjohn
Gerald Ritchie Upjohn, Baron Upjohn, CBE, PC, DL (25 February 1903 – 27 January 1971) was a British soldier and judge. Biography The younger son of William Henry Upjohn KC, he served in the Welsh Guards during the Second World War, reaching the rank of brigadier. In 1948, he sat with Sir George Lynskey and Sir Godfrey Vick on the Lynskey tribunal. Appointed to the Privy Council in 1960, he was Lord Justice of Appeal from 1960 to 1963. On 26 November 1963 he became a Lord of Appeal in Ordinary and was made additionally a life peer by the style title Baron Upjohn, of Little Tey in the County of Essex. While a Lord of Appeal in Ordinary he contributed to a number of significant cases. Three cases of particular importance are Boardman v Phipps 9672 AC 46 (giving a powerful dissent), Vandervell v IRC 9672 AC 291 (where he gave a majority speech) and In re Gulbenkian's Settlements 970AC 508. An interesting problem arose on Lord Upjohn's death. The Judicial Committee ...
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1966 In British Law
Events January * January 1 – In a coup, Colonel Jean-Bédel Bokassa takes over as military ruler of the Central African Republic, ousting President David Dacko. * January 3 – 1966 Upper Voltan coup d'état: President Maurice Yaméogo is deposed by a military coup in the Republic of Upper Volta (modern-day Burkina Faso). * January 10 ** Pakistani–Indian peace negotiations end successfully with the signing of the Tashkent Declaration, a day before the sudden death of Indian prime minister Lal Bahadur Shastri. ** The House of Representatives of the US state of Georgia refuses to allow African-American representative Julian Bond to take his seat, because of his anti-war stance. ** A Commonwealth Prime Ministers' Conference convenes in Lagos, Nigeria, primarily to discuss Rhodesia. * January 12 – United States President Lyndon Johnson states that the United States should stay in South Vietnam until Communist aggression there is ended. * January 15 – 1966 Nigerian coup ...
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Lord Wilberforce Cases
Lord is an appellation for a person or deity who has authority, control, or power over others, acting as a master, chief, or ruler. The appellation can also denote certain persons who hold a title of the peerage in the United Kingdom, or are entitled to courtesy titles. The collective "Lords" can refer to a group or body of peers. Etymology According to the Oxford Dictionary of English, the etymology of the word can be traced back to the Old English word ''hlāford'' which originated from ''hlāfweard'' meaning "loaf-ward" or "bread-keeper", reflecting the Germanic tribal custom of a chieftain providing food for his followers. The appellation "lord" is primarily applied to men, while for women the appellation "lady" is used. This is no longer universal: the Lord of Mann, a title previously held by the Queen of the United Kingdom, and female Lords Mayor are examples of women who are styled as "Lord". Historical usage Feudalism Under the feudal system, "lord" had a w ...
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Lord Denning Cases
A list of cases involving Lord Denning is bound to be incomplete, since he delivered around 2000 reported judgments. Lord Denning served as a judge for nearly 40 years, from 1944 to 1982. He often played a decisive role in developing the law and was influential around the Commonwealth and common law world. Counsel *'' L'Estrange v F Graucob Ltd'' 9342 KB 394 High Court *'' Fletcher v Fletcher'' 9451 All ER 582, 61 TLR 354, Denning approves the divorce of a husband who deserted wife by withdrawing sexual intercourse and joining a religious community. *''Central London Property Trust Ltd v High Trees House Ltd'' 947KB 130, Denning resurrects the lost doctrine of promissory estoppel. Court of Appeal *'' Hain Steampship Co Ltd v Minister of Food'' 9491 All ER 444 (C.A.) *''Olley v Marlborough Court Hotel'' 9491 KB 532, on exclusion clauses in contract law. *'' Metropolitan Borough and the Town Clerk of Lewisham v Roberts'' 9492 K.B. 608 (C.A.) — Dissenting, an executive bo ...
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English Trusts Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community * ...
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Bhullar V Bhullar
is a leading UK company law case on the principle that directors must avoid any possibility of a conflict of interest, particular relating to corporate opportunities. It was not decided under, but is relevant to, section 175 of the Companies Act 2006. Facts Bhullar Bros Ltd was owned by families of two brothers. Each side owned 50% of ordinary shares. The directors were Mr Mohan Bhullar, his son Tim, Mr Sohan Bhullar and his sons Inderjit and Jatinderjit. The company had a grocery store at 44 Springwood Street, Huddersfield. It also owned an investment property called Springbank Works, Leeds Road, which was leased to a bowling alley business called UK Superbowl Ltd. In 1998 the families began to fall out. Mohan and Tim told the board they wished for the company to buy no further investment properties. Negotiations began to split up the company, but they were unsuccessful. In 1999, Inderjit went bowling at the UK Superbowl Ltd alley. He noticed that the carpark next door (cal ...
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Industrial Development Consultants V Cooley
''Industrial Development Consultants Ltd v Cooley'' 9721 WLR 443 is a UK company law case on the corporate opportunities doctrine, and the duty of loyalty from the law of trusts. It is also applicable for fiduciary duty of an agent under agency law which states that an agent has a fiduciary relationship with his principal. This is a position which is similar to that of a trustee. Facts Mr Cooley was an architect employed as managing director of Industrial Development Consultants Ltd., part of IDC Group Ltd. The Eastern Gas Board had a lucrative project pending, to design a depot in Letchworth Letchworth Garden City, commonly known as Letchworth, is a town in the North Hertfordshire district of Hertfordshire, England. It is noted for being the first garden city. The population at the time of the 2011 census was 33,249. Letchworth .... Mr. Cooley was told that the gas board did not want to contract with a firm, but directly with him. Mr. Cooley then told the board of IDC ...
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Regal (Hastings) Ltd V Gulliver
, is a leading case in UK company law regarding the rule against directors and officers from taking personal advantage of a corporate opportunity in violation of their duty of loyalty to the company. The Court held that a director is in breach of his duties if he takes advantage of an opportunity that the corporation would otherwise be interested in but was unable to take advantage. However the breach could have been resolved by ratification by the shareholders, which those involved neglected to do. Facts Regal owned a cinema in Hastings. They took out leases on two more, through a new subsidiary, to make the whole lot an attractive sale package. However, the landlord first wanted them to give personal guarantees. They did not want to do that. Instead the landlord said they could up share capital to £5,000. Regal itself put in £2,000, but could not afford more (though it could have got a loan). Four directors each put in £500, the Chairman, Mr Gulliver, got outside subscriber ...
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Whelpdale V Cookson
''Whelpdale v Cookson'' (1747) 27 ER 856 is an English trusts law case, also relevant for UK company law, on the duty of loyalty owed by a trustee to beneficiaries of the trust. Facts A trustee purchased land that was owned by the trust. Judgment Lord Hardwicke gave the judgment of the court. The text in the English Report reads as follows.(1747) 27 ER 856, ie Vol. 27, p.856 See also *''Keech v Sandford is a foundational case, deriving from English trusts law, on the fiduciary duty of loyalty. It concerns the law of trusts and has affected much of the thinking on directors' duties in company law. It holds that a trustee owes a strict duty of ...'' Notes {{reflist, 2 English trusts case law United Kingdom company case law 1747 in British law Court of Chancery cases ...
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Keech V Sandford
is a foundational case, deriving from English trusts law, on the fiduciary duty of loyalty. It concerns the law of trusts and has affected much of the thinking on directors' duties in company law. It holds that a trustee owes a strict duty of loyalty so that there can never be a possibility of ''any'' conflict of interest. The case's importance derives partly from its historical context, with the South Sea Bubble. Lord King LC, who decided the case, replaced the former Lord Chancellor, Thomas Parker, 1st Earl of Macclesfield who was tried and found guilty in 1725 for accepting bribes and speculating with and losing client money in the South Sea crash. Lord Macclesfield had, probably not coincidentally previously held that a fiduciary was entitled to take money from a trust, invest it on their own behalf, and keep the profit, if they restored money to the trust. ''Keech'' reversed this, and the law in England and the UK has maintained a strict opposition to any possibility of a ...
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Business Judgment Rule
The business judgment rule is a case law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation... are clothed with hepresumption, which the law accords to them, of being otivatedin their conduct by a bona fide regard for the interests of the corporation whose affairs the stockholders have committed to their charge".''Gimbel v. Signal Cos.'', 316 A.2d 599, 608 (Del. Ch. 1974) The rule exists in some form in most common law countries, including the United States, Canada, England and Wales, and Australia. To challenge the actions of a corporation's board of directors, a plaintiff assumes "the burden of providing evidence that directors, in reaching their challenged decision, breached any one of the triads of their fiduciary duty — good faith, loyalty, or due care". Failing to do so, a plaintiff "is not entitled to any remedy unless the transaction constitu ...
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