Bairstow v Queen's Moat Houses plc

''Bairstow v Queens Moat Houses Plc'' EWCA_Civ_712
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Facts

Counsel argued that directors should be liable for unlawful distributions even when the company was solvent.

Judgment

Robert Walker LJ held that the idea that investors were getting a windfall was wrong. However it may be possible that in suing the directors, an equitable contribution from shareholders could be payable. That argument was not, however, raised here.

Sedley LJ concurred.

See also

*UK company law

Notes

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References

*

United Kingdom company case law
Court of Appeal (England and Wales) cases
2001 in United Kingdom case law