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Cases Richard Fowler

Progress Property Co Ltd v Moorgarth Group Ltd (2009)

Judgment Date: 26 Jun 2009

There had been no knowledge or intention that the sale of shares by one company to another had been below their market value and no reason to doubt the genuineness of the transaction as a commercial sale, even though the sale price had been calculated on the basis of a misunderstanding by all concerned, the share sale had been genuine, lawful and intra vires, even if it was at an undervalue.

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Progress Property Co Ltd v Cornus Moore (2008)

Judgment Date: 15 Oct 2008

A company director had not been in breach of his fiduciary duty or his duty of skill and care in procuring the sale of shares in a group company and approving the price where he had intended the transaction to be at market value and the shareholders of the vendor company had assented to the transaction.

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