About this document
Key Legal Cases on Company Shares by Qaseh Tyha is a document available to read on EtoBox.
The document discusses a case where a company bought back almost a quarter of its own shares. One shareholder later applied to the court for payment after the company went into liquidation. The Court of Appeal ruled in favor of the shareholder, but the House of Lords overturned this, finding that the share buyback was ultra vires (beyond the legal power or authority) of the company. Lord Herschell said that if such claims were allowed, it would undermine protections for creditors who expected funds from sha
- Author
- Qaseh Tyha
- Language
- EN