Summary The High Court considered the liability of the majority directors of an insolvent company in respect of a grant of security to themselves for a loan made by them to the company and in respect of a distribution in specie of the company's shareholding in a subsidiary. The court...

Summary A "double derivative" claim by the beneficiaries of the trust which held a minority shareholding in a company failed where the claimants could not show that the defendant had acted as a de facto director of the company or that he had acted fraudulently. Facts The claimants brought a...

Rebecca appeared un-led in cross-appeals in unfair prejudice petition in which Court of Appeal gave guidance on what constitutes a reasonable offer to purchase a minority shareholding.

Summary The Court of Appeal summarised when expenditure could be said to be in the "ordinary and proper course of business" so as to bring it within the scope of an undertaking not to dispose of company assets save for that purpose. Where a sole director was a vital part...

Summary A bank's application to bring a claim for marshalling, which it had subsequently assigned to a different party, had not been included within the terms of a settlement agreement and a master had been entitled to dismiss the application and award the respondents their costs of the application. Facts...

Summary The Taxation of Chargeable Gains Act 1992 s.116(1)(b) applied where, by a single transaction, both qualifying corporate bonds (which fell outside the charge to capital gains tax (CGT) on redemption) and non-qualifying corporate bonds (which fell within the charge to CGT on redemption) were converted into qualifying corporate bonds....

Summary A claimant was granted permission to apply for summary judgment even though default judgment was available because the defendants could have engaged with the proceedings and a summary judgment was more readily enforceable. However, the application for summary judgment was a judicial notice and it had not been served...

Summary A freezing order which included restraining provisions and disclosure provisions was not severable and amounted to an injunction. Accordingly, a litigant in the British Virgin Islands did not need to seek permission in order to appeal against aspects of the disclosure provisions in a freezing order, as the order...

Summary Arbitrators had breached their duty under the Arbitration Act 1996 s.33 to act fairly and impartially as between the parties by reaching a decision on a core issue without the losing party's main witness being cross-examined on that issue and by basing their decision on a case which had not...