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Adams V Cape Industries Plc
''Adams v Cape Industries plc'' 990Ch 433 is a UK company law case on separate legal personality and limited liability of shareholders. The case also addressed long-standing issues under the English conflict of laws as to when a company would be resident in a foreign jurisdiction such that the English courts would recognise the foreign court's jurisdiction over the company. It has in effect been superseded by '' Lungowe v Vedanta Resources plc'', which held that a parent company could be liable for the actions of a subsidiary on ordinary principles of tort law. The decision's significance was also limited by the House of Lords decision in '' Lubbe v Cape plc'' and the groundbreaking decision in '' Chandler v Cape plc'', holding that a direct duty may be owed in tort by a parent company to a person injured by a subsidiary. Facts Cape Industries plc was a UK company, head of a group. Its subsidiaries mined asbestos in South Africa and shipped it to Texas in the US, where a mar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christopher Slade
Sir Christopher John Slade (2 June 1927–7 February 2022) was a British judge who served as a Lord Justice of Appeal Judiciary of England and Wales, of England and Wales from 1982 to 1991. Biography The eldest son of George Penkivil Slade (a kinsman of Sir Benjamin Slade, 7th Baronet, Sir Benjamin Slade, although not in Remainder (law)#Special remainder in peerages, remainder to the Slade baronets, baronetcy) and Mary Carnegie, he had two younger brothers, Julian Slade, Julian (the composer) and Adrian Slade, Adrian (President of the Liberal Party), as well as a sister, Pauline (who married David Hamilton-Russell, a grandson of the Viscount Boyne, 8th Viscount Boyne). Slade was educated at Eton College, Eton before going up to New College, Oxford, where he was awarded the Eldon Scholarship. Taking King's Counsel, silk in 1965, he served as Master craftsman, Master of the Ironmongers' Company (for 1973/74), before being sworn of the Privy Council (United Kingdom), Privy Coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piercing The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessperson has left their job as a director and has signed a contract to not compete with the company they have just left for a period of time. If they set up a company which competed with their former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover" and that, as the new company is completely owned and controlled by one person, the former employee i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berkey V
Berkey is a surname. Notable people with the surname include: *Charles Peter Berkey (born 1867), American engineering geologist *Craig Berkey (born 1962), Canadian sound engineer * Dennis D. Berkey, American academic administrator * Jackson Berkey (born 1942), American composer, pianist, and singer * James L. Berkey (1930–1982), American set decorator *Jean Berkey (1938–2013), American politician *John Berkey (1932–2008), American artist *Jonathan Berkey Jonathan Porter Berkey is a historian specializing in Islam and the Middle East. He is currently professor of history at Davidson College. He received a bachelor's degree from Williams College, and his doctorate from Princeton University Pr ..., American historian * Joshua H. Berkey (1852-1911), American Prohibitionist politician * Russell S. Berkey (1893–1985), United States Navy admiral See also * Berkey, Ohio, village in Lucas County, Ohio, United States {{surname, Berkey ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has attempted to do the same. Twenty-four states follow the Model Business Corporation Act, while New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
VTB Capital Plc V Nutritek International Corp
is an English company law case, concerning piercing the corporate veil for fraud. Together with the subsequent decision of the Supreme Court later the same year in the Supreme Court substantially restated the English company law position in relation to piercing of the corporate veil. Facts VTB Capital plc claimed that Nutritek, its parent and a director called Konstantin Malofeev, fraudulently misrepresented the value of dairy companies that Nutritek was selling to Russagroprom LLC. VTB was giving a $225m loan to Russagroprom to buy the dairy companies. VTB claimed that it was deceived into thinking that Russagroprom was not already under common control with Nutritek. It additionally sought to hold the owner of Nutritek, Marshall Capital Holdings, Marshall Capital LLC and the alleged controller, Konstantin Malofeev all jointly liable because of their control of Nutritek. VTB Capital was a subsidiary of the Russian state owned bank called JSC VTB Bank, but the loan facility ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom Bingham, Baron Bingham Of Cornhill
Thomas Henry Bingham, Baron Bingham of Cornhill (13 October 193311 September 2010) was a British judge who was successively Master of the Rolls, Lord Chief Justice and Senior Law Lord. On his death in 2010, he was described as the greatest judge of his generation. Baroness Hale of Richmond observed that his pioneering role in the formation of the United Kingdom Supreme Court may be his most important and long-lasting legacy.Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) p 209. The Lord Phillips of Worth Matravers regarded Bingham as "one of the two great legal figures of my lifetime in the law" (the other figure, in context, being Lord Denning).Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) xlvii. Lord Hope of Craighead described Bingham as "the greatest jurist of our time". After retiring from the judiciary in 2008, Bingham focused on teaching, writing, and lecturing on legal sub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agent (law)
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal (commercial law), principal) to create legal relations with a third party. It may be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work under their control and on their behalf. The agent is, thus, required to negotiate on behalf of the principal or bring them and third parties into contractual relationship. This branch of law separates and regulates the relationships between: * agents and principals (internal relationship), known as the principal-agent relationship; * agents and the third parties with whom they deal on their principals' behalf (external relationship); and * principals and the third parties when the agents deal. Concepts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lift The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessperson has left their job as a director and has signed a contract to not compete with the company they have just left for a period of time. If they set up a company which competed with their former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover" and that, as the new company is completely owned and controlled by one person, the former employee is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federation
A federation (also called a federal state) is an entity characterized by a political union, union of partially federated state, self-governing provinces, states, or other regions under a #Federal governments, federal government (federalism). In a federation, the self-governing status of the component states, as well as the division of power between them and the central government, is Constitution, constitutionally entrenched and may not be altered by a unilateral decision, neither by the component states nor the federal political body without constitutional amendment. Sovereign power is formally divided between a central authority and a number of constituent regions so that each region retains some degree of control over its internal affairs. Overriding powers of a central authority theoretically can include the constitutional authority to suspend a constituent state's government by invoking gross mismanagement or civil unrest, or to adopt national legislation that override ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salomon V A Salomon & Co Ltd
is a landmark UK company law case. The effect of the House of Lords' unanimous ruling was to uphold firmly the doctrine of corporate personality, as set out in the Companies Act 1862, so that creditors of an insolvent company could not sue the company's shareholders for payment of outstanding debts. Facts Mr. Aron Salomon made leather boots or shoes as a sole proprietor. His sons wanted to become business partners, so he turned the business into a limited liability company. This company purchased Salomon's business at an excessive price for its value. His wife and five elder children became subscribers and the two sons became directors. Mr Salomon took 20,001 of the company's 20,007 shares which were payments from A Salomon & Co Limited for his old business (each share was valued at £1). The transfer of the industry took place on 1 June 1892. The company also issued to Mr Salomon £10,000 in debentures. On the security of his debentures, Mr. Salomon received an advance of £5, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liechtenstein
Liechtenstein (, ; ; ), officially the Principality of Liechtenstein ( ), is a Landlocked country#Doubly landlocked, doubly landlocked Swiss Standard German, German-speaking microstate in the Central European Alps, between Austria in the east and north and Switzerland in the west and south. Liechtenstein is a semi-constitutional monarchy headed by the prince of Liechtenstein of the House of Liechtenstein, currently led by Hans-Adam II. It is List of European countries by area, Europe's fourth-smallest country, with an area of just over and a population of 40,023. It is the world's smallest country to border two countries, and is one of the few countries with no debt. Liechtenstein is divided into Municipalities of Liechtenstein, 11 municipalities. Its capital is Vaduz, and its largest municipality is Schaan. It is a member of the United Nations, the European Free Trade Association, and the Council of Europe. It is not a member state of the European Union, but it participates i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
