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Capital Maintenance, dividends, discharging liabilities, funding purchase…
Capital Maintenance
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own share acquistion
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origin
trevor v whitworth company went into liqudiation, purchased and owned own shares - attempt to sell shares back to company - ultra vires - protected creditors - entitled to assume no capital paid into company paid out except in legitimate course of business
cited guiness v land corporation whatever paid by member can't be returned or divereted from objects - can't take away from funds where creditors look to be repaid from
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Irish provident assurance supporter to buy shares, to facilitate leaving after difference arise - agreement void because part of consideration was purchase by company of own shares
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dividends, discharging liabilities, funding purchase of shares by employees, making loan in ordinary course of business - not included in s82