Re Smith and Fawcett Ltd
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''Re Smith and Fawcett Ltd.''
942 Year 942 ( CMXLII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. Events By place Europe * Summer – The Hungarians invade Al-Andalus (modern Spain) and besiege the fortress ...
Ch 304 is a UK company law case, concerning the meaning of "the interests of the company". It is relevant for the provisions of company law now embodied in Companies Act 2006, section 172.


Facts

Article 10 of the company's constitution said that directors could refuse to register share transfers. Mr. Fawcett, one of the two directors and shareholders, had died. Mr. Smith co-opted another director and refused to register a transfer of shares to the late Mr. Fawcett’s executors. Half the shares were bought, and the other half offered to the executors.


Judgment

Lord Greene MR Wilfrid Arthur Greene, 1st Baron Greene,First name spelt Wilfred in some sources (30 December 1883 – 16 April 1952) was a British lawyer and judge, noted for creating two crucial principles of administrative law, the Wednesbury doctrine an ...
said:


See also

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Business judgment rule The business judgment rule is a case law-derived doctrine in corporations law that courts defer to the business judgment of corporate executives. It is rooted in the principle that the "directors of a corporation... are clothed with hepresumptio ...
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Australian Securities and Investments Commission v Rich ''Australian Securities and Investments Commission v Rich'', was one of the biggest civil cases in NSW Supreme Court history, in which the Australian Securities and Investments Commission accused former executive directors of One.Tel telecommuni ...
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009 009 may refer to: * OO9, gauge model railways * O09, FAA identifier for Round Valley Airport * 0O9, FAA identifier for Ward Field, see List of airports in California * British secret agent 009, see 00 Agent * BA 009, see British Airways Flight 9 * ...
NSWSC 1229 {{DEFAULTSORT:Re Smith and Fawcett Ltd United Kingdom company case law Court of Appeal (England and Wales) cases 1942 in case law 1942 in British law