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Adams V Cape Industries Plc
''Adams v Cape Industries plc'' 990Ch 433 is a UK company law case on separate legal personality and limited liability of shareholders. The case also addressed long-standing issues under the English conflict of laws as to when a company would be resident in a foreign jurisdiction such that the English courts would recognise the foreign court's jurisdiction over the company. It has in effect been superseded by '' Lungowe v Vedanta Resources plc'', which held that a parent company could be liable for the actions of a subsidiary on ordinary principles of tort law. The decision's significance was also limited by the House of Lords decision in '' Lubbe v Cape plc'' and the groundbreaking decision in '' Chandler v Cape plc'', holding that a direct duty may be owed in tort by a parent company to a person injured by a subsidiary. Facts Cape Industries plc was a UK company, head of a group. Its subsidiaries mined asbestos in South Africa and shipped it to Texas, where a marketing subsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christopher Slade
Sir Christopher John Slade (2 June 1927 – 7 February 2022) was a British judge who was a Lord Justice of Appeal from 1982 to 1991. Personal life His father was George Penkivil Slade. He had two brothers (Adrian and Julian), as well as a sister. Slade was educated at New College, Oxford, and was awarded the Eldon Scholarship. Marriage He married Jane Buckley in 1958. The couple had four children, Lucinda (born 1959), Victoria (born 1962), Richard (born 1963) and Amelia (born 1966). Death Slade died on 7 February 2022, at the age of 94. Judicial decisions Important judicial decisions of Lord Justice Slade include: * ''Re Bond Worth Ltd'' * '' Reckitt & Colman Products Ltd v Borden Inc'' * ''Adams v Cape Industries plc'' * ''Street v Mountford'' * ''Bank of Credit and Commerce International SA v Aboody'' * ''Rolled Steel Products (Holdings) Ltd v British Steel Corp'' * ''Phillips Products Ltd v Hyland and Hamstead Plant Hire Co Ltd'' * ''Aveling Barford Ltd v Perion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piercing The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessman has left his job as a director and has signed a contract to not compete with the company he has just left for a period of time. If he sets up a company which competed with his former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover"; and that as the new company is completely owned and controlled by one person that the former employee is deliberately ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berkey V
Berkey is a surname. Notable people with the surname include: * Charles Peter Berkey (born 1867), American engineering geologist * Craig Berkey (born 1962), Canadian sound engineer * Dennis D. Berkey, American academic administrator *Jackson Berkey (born 1942), American composer, pianist, and singer * James L. Berkey (1930–1982), American set decorator * Jean Berkey (1938–2013), American politician *John Berkey John Berkey (August 13, 1932 – April 29, 2008) was an American artist known for his space and science fiction themed works. Some of Berkey's best-known work includes much of the original poster art for the '' Star Wars'' trilogy, the poster for ... (1932–2008), American artist * Jonathan Berkey, American historian * Joshua H. Berkey (1852-1911), American Prohibitionist politician * Russell S. Berkey (1893–1985), United States Navy admiral See also * Berkey, Ohio, village in Lucas County, Ohio, United States {{surname, Berkey ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has done the same. Twenty-four states follow the Model Business Corporation Act, while New York and Calif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
VTB Capital Plc V Nutritek International Corp
is an English company law case, concerning piercing the corporate veil for fraud. Together with the subsequent decision of the Supreme Court later the same year in the Supreme Court substantially restated the English company law position in relation to piercing of the corporate veil. Facts VTB Capital plc claimed that Nutritek, its parent and a director called Konstantin Malofeev, fraudulently misrepresented the value of dairy companies that Nutritek was selling to Russagroprom LLC. VTB was giving a $225m loan to Russagroprom to buy the dairy companies. VTB claimed that it was deceived into thinking that Russagroprom was not already under common control with Nutritek. It additionally sought to hold the owner of Nutritek, Marshall Capital Holdings, Marshall Capital LLC and the alleged controller, Konstantin Malofeev all jointly liable because of their control of Nutritek. VTB Capital was a subsidiary of the Russian state owned bank called JSC VTB Bank, but the loan facility ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom Bingham, Baron Bingham Of Cornhill
Sir Thomas Henry Bingham, Baron Bingham of Cornhill, (13 October 193311 September 2010), was an eminent British judge who was successively Master of the Rolls, Lord Chief Justice and Senior Law Lord. He was described as the greatest lawyer of his generation. Baroness Hale of Richmond observed that his pioneering role in the formation of the United Kingdom Supreme Court may be his most important and long-lasting legacy.Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) p 209. Lord Phillips of Worth Matravers regarded Bingham as "one of the two great legal figures of my lifetime in the law" (the other figure, in context, being Lord Denning).Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) xlvii. David Hope, Baron Hope of Craighead described Bingham as "the greatest jurist of our time". After retiring from the judiciary in 2008, Bingham focused on teaching, writing, and lecturing on legal subject ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agent (law)
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party. Succinctly, it may be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work under their control and on their behalf. The agent is, thus, required to negotiate on behalf of the principal or bring them and third parties into contractual relationship. This branch of law separates and regulates the relationships between: * agents and principals (internal relationship), known as the principal-agent relationship; * agents and the third parties with whom they deal on their principals' behalf (external relationship); and * principals and the third parties when the agents deal. Concepts The recipro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lift The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessman has left his job as a director and has signed a contract to not compete with the company he has just left for a period of time. If he sets up a company which competed with his former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover"; and that as the new company is completely owned and controlled by one person that the former employee is deliberate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federation
A federation (also known as a federal state) is a political entity characterized by a union of partially self-governing provinces, states, or other regions under a central federal government (federalism). In a federation, the self-governing status of the component states, as well as the division of power between them and the central government, is typically constitutionally entrenched and may not be altered by a unilateral decision, neither by the component states nor the federal political body. Alternatively, a federation is a form of government in which sovereign power is formally divided between a central authority and a number of constituent regions so that each region retains some degree of control over its internal affairs. It is often argued that federal states where the central government has overriding powers are not truly federal states. For example, such overriding powers may include: the constitutional authority to suspend a constituent state's government by in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salomon V A Salomon & Co Ltd
is a landmark UK company law case. The effect of the House of Lords' unanimous ruling was to uphold firmly the doctrine of corporate personality, as set out in the Companies Act 1862, so that creditors of an insolvent company could not sue the company's shareholders for payment of outstanding debts. Facts Mr Aron Salomon made leather boots or shoes as a sole proprietor. His sons wanted to become business partners, so he turned the business into a limited liability company. This company purchased Salomon's business at an excessive price for its value. His wife and five elder children became subscribers and the two elder sons became directors. Mr Salomon took 20,001 of the company's 20,007 shares which was payment from A Salomon & Co Limited for his old business (each share was valued at £1). Transfer of the business took place on 1 June 1892. The company also issued to Mr Salomon £10,000 in debentures. On the security of his debentures, Mr Salomon received an advance of £5,000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constitutional monarchy headed by the prince of Liechtenstein. Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over and a population of 38,749 (). Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries. Liechtenstein is a doubly landlocked country between Switzerland and Austria. Economically, Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity. The country has a strong financial sector centred in Vaduz. It was once known as a billionaire tax haven, but is no longer on any officia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
