Archive for the 'company directors' Category

Ex-director given permanent ban on revealing confidential information – OUT-LAW.com

“A businessman has been ordered never to improperly reveal confidential information belonging to a company where he used to be a director.”

Full story

OUT-LAW.com, 5th April 2011

Source: www.out-law.com

Progress Property Co Ltd v Moorgarth Group Ltd – WLR Daily

Progress Property Co Ltd v Moorgarth Group Ltd [2010] UKSC 55; [2010] WLR (D) 218

“The sale of a company’s assets to a shareholder was not an unlawful distribution of assets if the court concluded that it was a genuine commercial transaction at arm’s length even if it appeared with hindsight that the sale was at an undervalue. The court’s conclusion depended on a realistic assessment of all the relevant facts and not simply on a retrospective valuation exercise in isolation from all other inquiries. The essential issue was how the transaction was to be characterised, and that was a matter of substance and not form.”

WLR Daily, 8th December 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Revenue and Customs Commissioners v Holland and another; In re Paycheck Services 3 Ltd and others – WLR Daily

Revenue and Customs Commissioners v Holland and another In re Paycheck Services 3 Ltd and others [2010] UKSC 51; [2010] WLR (D) 298

“A director of a corporate director of a company was not a de facto director of that company, who was thereby liable for the misuse of its assets, if his acts were done entirely within the ambit of the discharge of his duties and responsibilities as a director of the corporate director.”

WLR Daily, 24th November 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Law firms bring non-executives on board ahead of legal changes – The Guardian

“Headhunters spot new trend in law firms hunting for directors with non-legal backgrounds as pressure over corporate governance increases.”

Full story

The Guardian, 1st November 2010

Source: www.guardian.co.uk

In re Stakefield (Midlands) Ltd and others – WLR Daily

In re Stakefield (Midlands) Ltd and others [2010] WLR (D) 249

“A defendant to disqualification proceedings brought by the Secretary of State for Business, Enterprise and Regulatory Reform would not be entitled to have the proceedings struck out on the basis that the Secretary of State had committed a breach of duty by failing to obtain evidence or otherwise to investigate. Where, however imperfect the investigations might have been, the Secretary of State had in fact assembled evidence of a defendant’s unfitness to be concerned in the management of a company, it was for the court to determine at trial whether the Secretary of State had made out his case.”

WLR Daily, 13th October 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Annual board elections in new code for top companies – BBC News

“Plans for directors to submit to an annual shareholder vote form part of an overhaul of the code of conduct for the UK’s top 350 listed companies.”

Full story

BBC News, 27th May 2010

Source: www.bbc.co.uk

Former Wrexham FC chairman’s directorship ban – BBC News

“A former chairman of Wrexham FC has been banned from being a director of any UK company for seven years.”

Full story

BBC News, 30th March 2010

Source: www.bbc.co.uk


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