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Bushell V Faith
''Bushell v Faith'' 970AC 1099 is a UK company law case, concerning the possibility of weighting votes, and the relationship to section 184 of Companies Act 1948 (the predecessor of s 168 of the Companies Act 2006) which mandates that directors may be removed from a board by ordinary resolution (a simple majority of shareholder votes). The decision is not relevant to companies listed on the London Stock Exchange as the listing rules refuse listing where the articles of association contain restrictions on removing the board of directors. Facts A property company called Bush Court (Southgate) Ltd owned a block of flats. There was £300 capital, 100 shares held by Mr Faith and the other 200 by his two sisters, Mrs Bushell and Dr Bayne. Article 9 of the company constitution said that under a resolution to remove a director, that director's shares would carry three votes each. When the two sisters tried to remove him, Mr Faith recorded 300 votes and the other two, 200 votes togethe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, it for many centuries had a judicial function. It functioned as a court of first instance for the trials of peers, for impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and in 1948, the use of special courts for such trials was abolished. The procedure of impeachment became seen as obsolete. In 2009, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Table A
Table A in UK company law is the old name for the Model Articles or default form of articles of association for companies limited by shares incorporated either in England and Wales or in Scotland before 1 October 2009 where the incorporators do not explicitly choose to use a modified form. Table A was first introduced by the Joint Stock Companies Act 1856 (as 'Table B'), and then under its current name of 'Table A' by the Companies Act 1862. The existing form of Table A was introduced in 1985 by the subsidiary legislation passed under the Companies Act 1985, although it has been updated on several occasions since its introduction. Although Table A is the most frequently referred to, relating to generic companies limited by shares (the most common form), there are also pro forma constitutional documents for companies limited by guarantee without a share capital (Table C) and unlimited liability companies with a share capital (Table E). One advantage of having standard form consti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Company Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder Agreement
A shareholders' agreement (sometimes referred to in the U.S. as a stockholders' agreement) (SHA) is an agreement amongst the shareholders or members of a company. In practical effect, it is analogous to a partnership agreement. It can be said that some jurisdictions fail to give a proper definition to the concept of shareholders' agreement, however particular consequences of this agreements are defined so far. There are advantages of the shareholder's agreement; to be specific, it helps the corporate entity to maintain the absence of publicity and keep the confidentiality. Nonetheless, there are also some disadvantages that should be considered, such as the limited effect to the third parties (especially assignees and share purchasers) and alternation of the stipulated articles can be time consuming. Purpose In strict legal theory, the relationships amongst the shareholders and those between the shareholders and the company are regulated by the constitutional documents of the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russell V Northern Bank Development Corp Ltd
''Russell v Northern Bank Development Corp Ltd'' 9921 WLR 588 is a leading case on shareholders' rights in the United Kingdom in which the House of Lords held that a private shareholders' agreement could not fetter a company's statutory powers but could bind the voting rights of those parties to the agreement. Facts Four executives of a brick works in Dungannon, County Tyrone were shareholders, with 20 shares each, in a company called Tyrone Brick Limited (T.B.L) alongside Northern Bank Development Corporation, which held 120 shares. Eight hundred other shares were not allotted.''Russell v Northern Bank Development Corp Ltd'' 9921 WLR 588 at 590. All executives, Northern Bank, and the company T.B.L itself, were parties to a shareholders' agreement with a clause that stated, "No further share capital shall be created or issued in the company or the rights attaching to the shares already in issue in any way altered (save as herein set out) or any share transfer of the existing s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Report Of The Committee On Company Law Amendment
The ''Report of the Committee on Company Law Amendment'' (1945Cm 6659 known best as the "Cohen Report" for short, was a company law reform committee appointed by the United Kingdom Coalition Government, during the Second World War. It was chaired by Lord Cohen. Background The Committee was appointed in June 1943 by Hugh Dalton, who later became Chancellor of the Exchequer. Recommendations *This report recommended that shareholders be given a greater degree of control over directors, and led to CA 1948 s 184, then CA 1985 s 303, now CA 2006 s 168 *This also recommended that payments to directors on retirement should be subject to company approval (para 92, then CA 1947, then s 192 CA 1948). *p 47 said ‘the suggestion that managing directors are paid excessive sums is, as a rule, unfounded’ but recommended disclosure of aggregate compensation of directors as a group, including payment for outside services. *p 50 expressed concern about directors buying and selling shares with i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the manda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unfair Prejudice
Unfair prejudice in United Kingdom, company law is a statutory form of action that may be brought by aggrieved shareholders against their company. Under the Companies Act 2006 the relevant provision is s 994, the identical successor to s 459 Companies Act 1985. Unfair prejudice actions have generated an enormous body of cases, many of which are called "Re A Company", with only a six-digit number and report citation to distinguish them. They have become a substitute for the more restrictive conditions on a "derivative action", as an exception to the rule in '' Foss v Harbottle''. Though not restricted in such a way, unfair prejudice claims are primarily brought in smaller, non-public companies. This is the text from the Act. Four main issues arise out of the interpretation of s.994. First of all, who has a right to complain against whom? Secondly, what specifically does the "company's affairs" mean in s.994(1)(a)? Thirdly, when is something "unfair" and at the same time "prejudic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terence Donovan, Baron Donovan
Terence Norbert Donovan, Baron Donovan (13 June 1898 – 12 December 1971) was a British Labour Party politician and later a Lord of Appeal in Ordinary. Biography Born in West Ham, London, Donovan was educated at Brockley Grammar School, before serving in the Bedfordshire Regiment and the Royal Air Force during World War I. After demobilisation, he joined the Civil Service. He was called to the Bar by the Middle Temple in 1924, although he did not begin practising at the bar until 1932. Donovan was elected as Member of Parliament for Leicester East in the 1945 general election, and took silk the same year. When that constituency was abolished for the 1950 general election, he was re-elected for the new Leicester North East constituency. However, Donovan resigned from the House of Commons within weeks of the election, when he was appointed as a High Court judge, receiving the customary knighthood (his successor, Sir Lynn Ungoed-Thomas, also became a judge, in 1962). He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald Upjohn, Baron 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Morris, Baron Morris Of Borth-y-Gest
John William Morris, Baron Morris of Borth-y-Gest, (11 September 1896 – 9 June 1979) was a judge in England and Wales. He was a Law Lord from 1960 to 1975. Early life Morris was born in Liverpool, where his father was a bank manager. He was educated at the Liverpool Institute, but left school on the outbreak of the First World War in 1914 to join the Royal Welsh Fusiliers. He was granted a commission as a temporary second lieutenant (on probation) on 8 January 1916. He served in the British Army until 1918, reaching the rank of captain, and was awarded a Military Cross in January 1919. After he was demobilised, he studied law at Trinity Hall, Cambridge, where he was President of the Cambridge Union Society in 1919. He graduated with an LLB in 1920, and won a Joseph Hodges Choate fellowship to study for one year at Harvard. Legal career Morris was called to the Bar at Inner Temple in 1921, and joined the Northern Circuit, where he became successful due to his skilful ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Model Articles
The Companies (Model Articles) Regulations 2008SI 2008/3229 are the default company constitution for limited companies under UK company law. The Model Articles will apply to a limited company if it does not register its own articles or, if it does register them, they will apply to the extent that they are not modified by the Articles of the company. The new Model Articles came into force on 1 October 2009 and replaced the old Companies Act 1985 Table A Articles. There are no Model Articles for unlimited companies as these types of companies are relatively rare and often have very specific needs that do not justify a standardised approach. The Model Articles do not affect companies incorporated prior to 1 October 2009 unless they choose to adopt them. Private companies Schedule 1 contains the model articles for companies limited by shares. Schedule 2 contains model articles for companies limited by guarantee (which are often non-profit). The model articles for private companie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
