O/T Company Law

[StevieV]

Prepare to be bored, but hey maybe one of you can actually help.

Anyone have any views on whether or not a special resolution to reduce share capital under s.135 Companies Act 1985 could alter or abrogate class rights under s.125 of the same act?

The case law seems to suggest no: House of Fraser v ACGE (1987) but does anyon know of any Obiter or Academic argument which might make a case for it?

I mean surely in reducing share capital to the point where you completely pay up all preference shares for example, you are abrogating all of the rights of that class?

anyone?

 

[Tooting Gull]

I've had a think about it - but I'm afraid I don't know the answer. Sorry.

However, I will be sending you a bill for £176-50 + VAT for the five minutes I've been mulling it over.

 

[StevieV]

heheh, loving it

 

[adrian29uk]

Solicitors, Lawyers are a bunch of

They do no good for the country at all. They are non productive, which is why the country is in the state it is in.

We need more people like Mechanical Engineers, Electronics Engineers, Inventors and Scientists. We also need more decent Nurses and Teachers.

I consider these to be productive and rewarding jobs. They actually help people in the long run.

Please tell me how a Solicitor or Lawyer is productive and how they help people.

Did you Know Mechanical Engineering and Electronics, Sciences, Computing and Maths are some of the hardest subjects to study as a degree, is this why everybody picks law.

 

[Tom Hark Preston Park]

Prepare to be bored, but hey maybe one of you can actually help.

Anyone have any views on whether or not a special resolution to reduce share capital under s.135 Companies Act 1985 could alter or abrogate class rights under s.125 of the same act?

The case law seems to suggest no: House of Fraser v ACGE (1987) but does anyon know of any Obiter or Academic argument which might make a case for it?

I mean surely in reducing share capital to the point where you completely pay up all preference shares for example, you are abrogating all of the rights of that class?

anyone?

Wasn't prepared to be THAT bored

 

[aftershavedave]

Prepare to be bored, but hey maybe one of you can actually help.

Anyone have any views on whether or not a special resolution to reduce share capital under s.135 Companies Act 1985 could alter or abrogate class rights under s.125 of the same act?

The case law seems to suggest no: House of Fraser v ACGE (1987) but does anyon know of any Obiter or Academic argument which might make a case for it?

I mean surely in reducing share capital to the point where you completely pay up all preference shares for example, you are abrogating all of the rights of that class?

i don't think so, special resolution under s135 takes priority.
anyone?

 

[Lush]

Don't wish to be unhelpful but aren't there specialist boards for these kinds of questions?

WWW.LAWYERS.CON - maybe?

 

[Faldo]

WWW.LAWYERS.CON - maybe?

Good skills!