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Re Hydrodam (Corby) Ltd
''Re Hydrodan (Corby) Ltd'' 9942 BCLC 180 is a UK company law case, concerning the meaning of a shadow director. It is sometimes incorrectly cited in sources as ''Re: Hydrodam''. Facts There were two corporate directors of a parent company of Hydrodan (Corby) Ltd, which was a wholly owned subsidiary of Landsaver MCP Ltd, itself a wholly owned subsidiary of Midland City Partnerships Ltd, which was, finally, a wholly owned subsidiary of Eagle Trust plc, a TV conglomerate chaired by David James, Baron James of Blackheath. The liquidator alleged that the two directors of Eagle Trust, Leslie Thomas and Dr Hardwick, were liable for wrongful trading, and contended they were liable as shadow directors under the Companies Act 2006 section 251. Judgment Millett J held the directors of the parent were not shadow directors of the subsidiary, just by being members of the parent company’s board. It would need to be shown that they personally instructed and directed the subsidiary’s boa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millett J
Peter Julian Millett, Baron Millett, , (23 June 1932 – 27 May 2021) was a British barrister and judge. He was a Lord of Appeal in Ordinary from 1998 to 2004. Biography Early life The son of Denis and Adele Millett, he was educated at Harrow School, London, and at Trinity Hall, Cambridge, where he received a Master of Arts in Classics and Law in 1954, graduating with a Double First. From 1955 to 1957 he served as a Flying Officer in the Royal Air Force. He was awarded an honorary fellowship by Queen Mary, University of London in 2012. Legal career Millett was called to the bar at Middle Temple in 1955. In 1959, he joined Lincoln's Inn, where he was appointed a bencher in 1980. From 1958 to 1986 he practised at the Chancery Bar and was examiner and lecturer in practical conveyancing at the Council of Legal Education from 1962 to 1976. Between 1967 and 1973, Millett was junior counsel at the Department of Trade and Industry in chancery matters, and between 1971 and 1975 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shadow Director
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wrongful Trading
Wrongful trading is a type of civil wrong found in UK insolvency law, under Section 214 Insolvency Act 1986. It was introduced to enable contributions to be obtained for the benefit of creditors from those responsible for mismanagement of the insolvent company. Under Australian insolvency law the equivalent concept is called " insolvent trading". The Insolvency Act 1986 The principle of wrongful trading was introduced in the Insolvency Act 1986, to complement the concept of fraudulent trading. Unlike fraudulent trading, wrongful trading needs no finding of 'intent to defraud' (which requires a heavy burden of proof). Wrongful trading is therefore a less serious, and more common offence than fraudulent trading. Under UK insolvency law, wrongful trading occurs when the directors of a company have continued to trade a company past the point when they: *"knew, or ought to have concluded that there was no reasonable prospect of avoiding insolvent liquidation"; and *they did not tak ... [...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] |
Shadow Director
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eagle Trust Plc
Eagle is the common name for many large birds of prey of the family Accipitridae. Eagles belong to several groups of genera, some of which are closely related. Most of the 68 species of eagle are from Eurasia and Africa. Outside this area, just 14 species can be found—2 in North America, 9 in Central and South America, and 3 in Australia. Eagles are not a natural group but denote essentially any kind of bird of prey large enough to hunt sizeable (about 50 cm long or more overall) vertebrates. Description Eagles are large, powerfully-built birds of prey, with heavy heads and beaks. Even the smallest eagles, such as the booted eagle (''Aquila pennata''), which is comparable in size to a common buzzard (''Buteo buteo'') or red-tailed hawk (''B. jamaicensis''), have relatively longer and more evenly broad wings, and more direct, faster flight – despite the reduced size of aerodynamic feathers. Most eagles are larger than any other raptors apart from some vultures. The smallest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David James, Baron James Of Blackheath
David Noel James, Baron James of Blackheath (born 7 December 1937) is a British businessman and corporate troubleshooter and Conservative life peer. Career James has had a varied career in the City of London. He trained with Lloyds Bank between 1959 and 1964, joining Ford Credit's launch team in the latter year. He then became a director of many companies, often those in trouble, to assist their recovery: in 1973 he joined Cork Gulley to rescue Cedar Holdings; in 1989 he was appointed chairman of Eagle Trust; other directorships have included British Shoe Corporation, LEP group, Dan-Air, North Sea Assets and Central & Sheerwood. During his time at Eagle Trust he triggered the Iraqi supergun affair. Whilst visiting Eagle-owned Walter Somers factory in Halesowen in 1990, he noticed the muzzle of what appeared to be a large gun. He informed MI6, giving them one of their first leads. He served a term under David Rowland on the Council of Lloyd's, and chaired a committee which c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shadow Directors
A board of directors (commonly referred simply as the board) is an Committee#Executive committee, executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Act 1986
The Insolvency Act 1986c 45 is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate insolvency in the UK. History The Insolvency Act 1986 followed the publication and most of the findings in the Cork Report, including the introduction of the Individual Voluntary Arrangement (IVA) and Company Voluntary Arrangement (CVA) procedures. Elements of the Act have been updated by the Enterprise Act 2002 which came into enforcement on 1 April 2004 and introduced amongst other things the popular "out-of-court" administration route.Lyndon Norley, Kirkland & Ellis International LLP and Joseph Swanson and Peter Marshall, Houlihan Lokey (2008). A Practitioner's Guide to Corporate Restructuring. City & Financial Publishing, 1st edition Those considering the main Act should also refer to the Insolvency Rules 1986 and numerous Regulations and other amending legislation since 1986, and also to the best practice which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue And Customs Commissioners V Holland
''Re Paycheck Services 3 Ltd'' or is a UK insolvency law and company law case, concerning misfeasance. Facts Mr Holland set up several composite companies that paid salaries and dividends to its contractors as if they were employees and nonvoting shareholders, so as to reduce the amount of tax they paid, but not load them with the administrative burdens if they set up themselves as companies. However the tax scheme failed because the result of the share structure was that Holland was in control of them and they were associated for tax purposes, each was liable for high corporation tax and the companies went insolvent. Holland was the director of another company which itself was the director of those companies, and the Revenue was the sole remaining creditor. It claimed Holland was liable under Insolvency Act 1986 section 212 to account for dividends as they were misapplied or Holland was guilty of misfeasance or breach of fiduciary duty, and for that Holland needed to be tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Independent
''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was published on Saturday 26 March 2016, leaving only the online edition. The newspaper was controlled by Tony O'Reilly's Irish Independent News & Media from 1997 until it was sold to the Russian oligarch and former KGB Officer Alexander Lebedev in 2010. In 2017, Sultan Muhammad Abuljadayel bought a 30% stake in it. The daily edition was named National Newspaper of the Year at the 2004 British Press Awards. The website and mobile app had a combined monthly reach of 19,826,000 in 2021. History 1986 to 1990 Launched in 1986, the first issue of ''The Independent'' was published on 7 October in broadsheet format.Dennis Griffiths (ed.) ''The Encyclopedia of the British Press, 1422–1992'', London & Basingstoke: Macmillan, 1992, p. 330 It was produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Company Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
