Source: All England Reporter
Publisher Citation: [2003] All ER (D) 179 (Apr)
Neutral Citation: [2003] EWCA Civ 494
Court: Court of Appeal, Civil Division
Judge:

Dame Elizabeth Butler-Sloss P, Mummery and May LJJ
Representation Charles Purle QC (instructed by Withers) for the claimant.
  Philip Marshall (instructed by Baker McKenzie) for the defendant.
Judgment Dates: 10 April 2003

Catchwords

Companies - Shares - Sale of shares - Purchase of shares with financial assistance - Parties rescheduling agreement for sale of shares in claimant company to offset existing debts - Judge finding agreement not amounting to financial assistance for purpose of acquiring its own shares - Judge striking out claimant's claims as having no real prospect of success - Correctness of decision - ss 151, 152.

The Case

In the instant case, the judge had been entitled to concluded that the claimant had not given financial assistance for the purpose of acquiring its own shares so that there had been no breach of ss151 and 152 of the . The judge had therefore been right to strike out the claimant's claim as having no real prospect of success.

Practice Areas

If you are a LexisLibrary subscriber you can read more about this case here.

Lexis®Library

  • An Official transcript is the final version of the judgment prepared by shorthand writers. LexisLibrary contains all judgments from the High Court and aboveView Judgment
  • The All England Law Reports comprises judgments with headnotes and catchwords indicating the area of law and key issues of the case prepared by legally qualified editorsFind AllER Reports
  • Cases related to this particular case that are related to, or discuss this caseView related cases
  • Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView related commentary