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Kirby V Wilkins
''Kirby v Wilkins'' 929Ch 444 is a UK company law and English trusts law case involving the duties owed by a nominee of shares to the beneficiary. It determines that a beneficiary, if absolutely entitled, can instruct a bare nominee how to deal with the shares. Pending any instructions about voting from the beneficial owner, the registered holder can vote shares in the beneficiary's interest. Facts Mr Kirby was one of four people which sold a business to Derby Paper Staining Ltd. Unfortunately, the price was miscalculated and the company overpaid. It had paid by giving £16,000 worth of its shares to the four. The four decided, voluntarily and not because of any right of the company arising from misrepresentations, to give the company back £3,000 worth of shares. But then Mr Kirby argued, against the chairman, Mr Wilkins, that the shares were held on trust for the individual shareholders, and so he could not vote at any meeting on the shares. Mr Wilkins argued that the shares wou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK 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 mandato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
