||All England Reporter
|| All ER (D) 179 (Apr)
|| EWCA Civ 494
||Court of Appeal, Civil Division
Dame Elizabeth Butler-Sloss P, Mummery and May LJJ
||Charles Purle QC (instructed by Withers) for the claimant.
||Philip Marshall (instructed by Baker McKenzie) for the defendant.
||10 April 2003
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.
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.
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