05/01/18 Company Law and Capitalism | University of Kent

Company Law and Capitalism

All the module handouts (module outline, sectionsyllabuses, lecture and seminar handouts) will beposted on the module web page (Moodle). The modulelectures are recorded and these too will be available onthe module web page.

View Online

143 items

1) Textbooks and Casebooks (7 items)You will need access to an up-to-date casebook and textbook.

Textbook (5 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, 2014Book | Core (Must Read)

For those of you keen to gain a deeper and more comprehensive look at the issues youcan also add:

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Recommended (Should Read)

Another useful text is:

Mayson, French & Ryan on company law - French, Derek, Mayson, Stephen W., Ryan,Christopher, 2012

Book | Background (Could Read)

Casebook (2 items)The recommended casebook is:

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read)

Cases and materials in company law - Sealy, L. S., Worthington, Sarah, 2010Book | Core (Must Read) | This is a comprehensive casebook which in some ways

substitutes for a basic text.

StatutesYou will also require a copy of various company law statutes, most notably The CompaniesActs 2006. Any one of the most up to date statute books will have the relevant provisionsof the Companies Act. Buy the latest editions of the statute books. Please make sure thatthe statute book that you buy contains provisions of the Financial Services and MarketsAct 2000 (FSMA) and Part V of the Criminal Justice Act, 1993. In previous years, we have

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had students running around hours before the exam – looking for statute books. This isunacceptable and the responsibility to ensure you have a statute book is entirely yours.Students are encouraged to bring their statute books to the seminars as we will from timeto time make reference to relevant provisions.

Introduction to Company Law and Capitalism (9 items)Lectures in Weeks 1 and 2 / Seminar in Week 3

Relevant Legislation (5 items)

Partnership Act 1890, ss.1, 2, 5, 9, 10, 11, 12, 14, 19 and 24.

Limited Partnerships Act 1907, ss. 4, 5, 6, 7, 8, 8A, 8B, 8C and 9.

Limited Liability Partnership Act 2000

Financial Services and Markets Act 2000, s.74.

Companies Act 2006, ss.7, 541, 542, 582, 583, 585, 586, 761, 763 and Part 7.

Required Reading (1 items)

Chapter 1 of Company law - DignamChapter | Core (Must Read)

Further Reading (3 items)

On Partnership Law Generally (1 items)

Partnership law - Morse, Geoffrey, 2010Book

Historical Material (2 items)

Joint Stock Companies Act 1844

Limited Liability Act 1855

Joint Stock Companies Act 1856

Companies Act 1985

The company: a short history of a revolutionary idea - Micklethwait, John, Wooldridge,Adrian, 2003

Book

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Corporate Personality and Limited Liability (5 items)Lecture in Week 3 / Seminars in Week 4

Relevant Legislation (1 items)

Insolvency Act 1986, s74

Companies Act 2006, ss.3, 15, and 16

Required Reading (3 items)

Chapter 2 of Company law - DignamChapter | Core (Must Read)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 35-42 and 217-214.

Salomon v A. Salomon & Co [1897] AC 22

Further Reading (1 items)

Journals (1 items)

Corporate form: questioning the unsung hero - Hicks, 1997Article

Lifting the Corporate Veil (16 items)Lecture in Week 4 / Seminars in Week 5

Relevant Legislation (1 items)

Insolvency Act 1986, ss. 213 and 214.

Companies Act 2006, ss. 399 and 993

Required Reading (7 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | pgs 34-51.

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | pgs 212-223.

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Adams v Cape Industries plc [1990] Ch. 433.

Jones v Lipman [1962] 1 WLR 832.

Gilford Motor Co. Ltd v Horne [1933] Ch 935.(judgement of Lord Hanworth Only)

Chandler v Cape plc [2012] 3 All ER 640

Ziegler and Gallagher, "Lifting the corporate veil in the pursuit of justice" [1990] JBL 292(available on Westlaw)

Further Reading (8 items)

On Corporate Groups Generally (1 items)

The Albazero [1977] AC 774

re: Southard & Co Ltd [1979] 1 W.L.R. 1198

On Piercing / Lifting the Veil Generally (2 items)

Littlewoods Mail Order Stores Ltd v McGregor (Inspector of Taxes) [1969] 1 WLR 1241

Berkley v Third Avenue Railway 244 NY 84 (1926) (US)

Yukong Line Ltd v Rendsburg Investments Corporation of Liberia (No 2) [1998] 1 WLR 294

Re: FG (Films) Ltd [1953] 1 WLR 483

A temple built on faulty foundations - Marc Moore, 2006Article

Lifting the Corporate Veil Under Statute (1 items)

Revenue (Tax) Law, Landlord and Tenant Act 1954 Trading with the Enemy Act 1939

Daimler Co Ltd v Continental Tyre and Rubber Co. (GB) Ltd [1916] 2 AC 307

Dadoo Ltd & Ors v Krugersdorp Municipal Council 1920 AD 530 (South Africa)

Lifting the Corporate Veil at Common Law (1 items)

DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 1 WLR 852.

Woolfson v Strathclyde Regional Council [1978] SC 90 (HL).

Bank of Tokyo Ltd v Karoon [1987] AC 45.

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Re: Polly Peck International Plc [1996] 2 All ER 433.

Ord v Belhaven Pubs Ltd [1998] 2 BCLC 447.

Re Darby, ex Brougham [1911] 1 KB 95.

Aveling Barford Ltd v Perion Ltd [1989] BCLC 626.

Lee v Lee's Air Farming Ltd [1961] AC 12

Smith, Stone & Knight Ltd v. Birmingham Corporation [1939] 4 All ER 116.

Re: a Company [1985] BCLC 333

Conway v Ratiu [2006] 1 All ER 571

Creasy v Breachwood Motors Ltd [1993] BCLC 480

Williams v. Natural Life Health Foods Ltd [1998] 1 WLR 830 (HL)

Re: Bugle Press Ltd [1961] Ch 270

Wallersteiner v Moir [1974] 1 WLR 991

Trustor AB v Smallbone [2001] (No 2) [2001] 3 All ER 987

US Jurisprudence on Undercapitalization (1 items)

Taylor v Standard Gas & Electric Company (1939) 306 US 307 (US Case)

Herman v Mobile Homes Corporation (1947) 26 NW 2D 757 (US Case)

Bartle v Home Owners Co-operative (1955) 127 NE 2d 832 (US Case)

On Forum Non Conveniens (2 items)

Lubbe and Other v Cape Plc [2000] 1 WLR 1545

Owusu v Jackson [2005] QB 801 Connelly v RTZ Corporation Plc [1997] 3 WLR 373 (HL)

Re: Union Carbide Corp. (1986) 634F. Supp. 842 (Bhopal case) (US Case)

"Is the road to England clear? - Suing Multinational Corporate Groups for Corporate torts inthe wake of the Lubbe decision - Alex Magaisa

Chapter

The Constitution of the Company (12 items)Lecture in Week 5 / Seminars in Week 7

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Relevant Legislation (1 items)

Insolvency Act 1986, s.216.

Companies Act 2006, ss. 7-16,s.19, s.20, s.21, s.28, s. 33, s.53-59, s.66, s.168, ands.270-271.

Required Reading (4 items)

Chapter 8 of Company law - DignamChapter | Core (Must Read)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 64-79, 83-95, and 100-101.

Russell v Northern Bank Development Corpn [1992] 1 W.L.R. 588

Companies HouseWebsite | Core (Must Read)

Further Reading (7 items)

Unlawful Purposes (1 items)

R. v Registrar of Companies Ex p. Attorney General [1991] BCLC 476 (the Lindi St Claircase)

The Constitution as a Contract of Membership (1 items)

Bratton Seymore Service Co Ltd v Oxborough [1992] BCLC 693

The Constitution as a Contract Between the Company and Its Members(1 items)

Hickman v Kent or Romney Marsh Sheep-Breeders' Association [1915] 1 Ch 881

Enforcement of the s.33 Contract (1 items)

Foss v Harbottle (1843) 67 ER 189

Wood v Odesa Waterworks Co (1889) 42 Ch D 636.

Welton v Saffery (1897) AC 299. Rayfield v Hands [1960] Ch 1

Distinguishing Between Personal and General Rights (1 items)

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Mozley v Alson (1847) 1 Ph 790

MacDougall v Gardiner (1875) 1 Ch D 13.

Pender v Lushington (1877) 6 Ch D 70

Edwards v Haliwell [1950] 2 All ER 1064

The Question of ‘Outsider Rights' (1 items)

Eley v Positive Government Security Life Assurance Co (1876) 1 EX D 88

Browne v La Trinidad (1887) 37 Ch D 1.

Salmon v Quin & Axtens Ltd [1909] AC 442

Beattie v E & F Beattie Ltd (1938) Ch 708

Hickman v Kent or Romney Marsh Sheep-Breeders' Association [1915] 1 Ch 881 GlobalinkTelecommunications

Ltd v Wilmbury [2003] 1 BCLC 145

Re New British Iron Co, ex p Beckwith [1898] 1 Ch 324

Punt v Symons & Co Ltd [1903] 2 Ch 506

Southern Foundries Ltd v Shirlaw [1940] AC 701

Shareholder Agreements (1 items)

Greenhalgh v Mallard [1943] 2 All ER 234

Puddephatt v Leith [1916] 1 Ch 200

Greenwell v Porter [1902] 1 Ch 530

Bushell v Faith [1970] AC 1099

Promoters and Liability for Pre-incorporation Contracts (9 items)Lecture in Week 7 / Seminars in Week 8

Relevant Legislation (1 items)

Companies Act 2006, s.51.

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Required Reading (2 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | 53-63.

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 111-125

Further Reading (6 items)

On fiduciary duties generally (1 items)

Trusts law: text and materials - Moffat, Graham, Bean, Gerard M. D., Probert, Rebecca,2009

Book

Relationship Between the Promoter and the Company (1 items)

Twycross v Grant (1877) 2 CPD 469

Promoters and Fiduciary Duties (1 items)

Erlanger v New Sombrero Phosphate Co. (1878) 3 App. Case 1218

Lagunas Nitrate Co. v Lagunas Syndicate [1899] 2 Ch. 392

Gluckstein v Barnes [1900] AC 240 (HL)

Omnium Electric Palaces v Baines[1914] 1 Ch 322.

Remedies for breach of Fiduciary Duties (1 items)

Whaley Bridge Calico Printing Co v Green (1879) 2 QBD 109

Re: Cape Breton Co (1885) 29 Ch D 795

Pre-Incorporation Contracts (1 items)

Kelner v Baxter (1866-67) LR 2 CP 174

Newborne v Sensolid (Great Britain) Ltd [1954] 1 Q.B. 45

Statutory Liability of Agents for Pre-Incorporation Contracts (1 items)

Phonogram Ltd v Lane [1982] QB 938

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Cotronic (UK) Ltd v Dezonie [1991] BCLC 721

Oshkosh B'Gosh Inc v Dan Marbel Inc Ltd [1989] BCLC 507

Braymist Ltd v Wise Finance Co Ltd [2002] Ch 273

Contractual Liability of the Company (13 items)Lectures in Weeks 8 and 9 / Seminar in Week 9

Relevant Legislation (1 items)

Companies Act 2006, ss 28, 31, 39, 40, 41, 43, and 161.

Required Reading (2 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | 269-283.

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 163-190.

Further Reading (10 items)

On Ultra Vires (1 items)

Ashbury Railway Carriage and Iron Company v. Hector Riche (1874-75) L.R. 7 H.L. 653

Re Introductions Ltd [1970] Ch 199

Rolled Steel Ltd v British Steel Corporation [1986] Ch 246

Parke v Daily News [1962] Ch 927

Doctrine of Constructive Notice (1 items)

Re Jon Beauforte (London) Ltd [1953] Ch 131

The Turquand Rule (1 items)

Royal British Bank v Turquand (1855) 119 ER 474

Morris v Kanssen [1946] AC 459

Mohoney v East Holyford Mining Co.(1875) L.R. 7 H.L. 869.

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A. L. Underwood, Limited v. Bank of Liverpool and Martins [1924] 1 KB 775 Howard vPatent Ivory

Manufacturing Co (1888) LR 38 Ch. D. 156

J C Houghton & Co Ltd v Nothard, Lowe & Wills Ltd [1927] 1 KB 246

Statutory Protection for Third Parties Dealing with the Board (1 items)

Wrexham Association Football Club Ltd v Crucialmove Ltd [2007] BCC 139, CA.

Smith v Henniker-Major [2003] Ch 182

EIS Services Ltd v Phipps [2004] EWCA Civ 1069

Directors and Invalid Acts (1 items)

Smith v Henniker-Major [2002] BCC 544 (Chancery Division)

Smith v Henniker-Major [2003] Ch 182 (Court of Appeal)

Authority (1 items)

Actual and implied authority

Panorama Developments (Guildford) Ltd. v. Fidelis Furnishing Fabrics Ltd [1971] 2 QB 711

Hely-Hutchinson v Brayhead Ltd [1968] 1 QB 549

Apparent/Ostensible Authority

Freeman & Lockyer v Buckhurst Park Properties (Mangal) Ltd [1964] 2 QB 480 AMBGenerali holding AG v SEB

Trygg Liv Holding Aktiebolag [2005] EWCA Civ 1237

British Bank of the Middle East v Sun Life Assurance of Canada (UK) Ltd [1983] 2 Lloyd'sRep. 9

Limiting Actual Authority Through the Companies Constitution (1 items)

Hopkins v T L Dallas Group Ltd [2005] 1 BCLC 543.

Journal Articles (3 items)

The agent's apparent authority: paradigm or paradox? - Ian Brown, 1995Article

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Usual and ostensible authority - one concept or two? - Richard Stone, 1993Article

History of the Rule in Royal British Bank v. Turquand - K E Lindgren, 1975Article

Tortious and Criminal Liability of Companies (11 items) Lecture in week 13 / Seminar in Week 14

Relevant Legislation (1 items)

Corporate Manslaughter and Homicide Act 2007, s.1 and 2.

Required Reading (3 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | 283 - 287

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 191-206

Corporate Criminal Liability: An Assessment of the Models of Fault - Neil Cavanagh, 2011Article | Core (Must Read)

Further Reading (7 items)

Introduction (1 items)

Stepney Corporation v Osofsky [1937] 3 All ER 289

Vicarious Liability (1 items)

Lloyd v Grace, Smith & Co. [1912] A.C. 716 (HL) Morris v CW Maritime & Sons Ltd [1966] 1Q.B. 716, CA Lister v Hesley Hall Ltd [2001] 2 All ER 769 (HL) Dubai Aluminium Co. Ltd vSalaam [2003] 1 BCLC 32 (HL)

The Doctrine of No Assumption of Responsibility (1 items)

Williams v Natural Health Foods Ltd [1998] 1 WLR 830 (HL). Fairline Shipping Corp vAdamson [1975] QB 180

Company’s Liability in Crime: Attribution Theory (1 items)

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Lennard's Carrying Co Ltd v Asiatic Petroleum Co Ltd [1915] AC 705 (HL) TescoSupermarkets Ltd v Nattrass [1972] AC 153. National Rivers Authority v Alfred McAlpineHomes East [1994] 4 All ER 286 Meridian Global Funds Management Asia Ltd v SecuritiesCommission [1995] 2 AC 500 A-G's Reference (No 2 of 1999) [2000] Q.B. 796 (CA)

Company Liability for Killing (3 items)

R v P & O European Ferries (Dover) Ltd [1990] 93 Cr App Rep 72, [1991] Crim LR 695 R vKite and OLL Ltd  Times, 8 December 1994 A-G's Reference (No 2 of 1999) [2000] Q.B. 796(CA)

Law Com. Report No. 237 Legislating the Criminal Code: Involuntary Manslaughter, H.C.171 (1996) Home Office Consultation Paper (23 May 2000)

The Attribution of Culpability to Limited Companies - G R Sullivan, 1996Article

Introduction to Directors' Duties (5 items)Lecture in Week 14 / Seminars in Week 15

Relevant Legislation (1 items)

Companies Act 2006, s.154, s.155, s.157, s.158, s.159, s.160, s.161, s.162, s.163, s.164,s.165, s.167, s.168, s.170, s.172, s.173, s.175, s.177, s.178, s.180, s.182, s.250, s.272,s.441 (in outline)

Required Reading (2 items)

Chapter 15 of Company law - DignamChapter | Core (Must Read)

The Twilight of the Berle and Means Corporation - Gerald Davis, 2011Article | Core (Must Read)

Further Reading (2 items)

Generally (1 items)

Berle and Means, The Problem of Separation of Ownership and Control in Companies(1933) (available via Hein Online)

Directors Duties (1 items)

To Whom are the duties owed?

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Percival v Wright [1902] 2 Ch 421

Multinational Gas and Petrochemical Co v Multinational Gas and Petrochemical ServicesLtd [1983] Ch 258

Hedley Byrne & Co v Heller [1964] AC 465

Gething v Kilner [1972] 1 All ER 1166

Coleman v Myers [1977] 2 NZLR 298 (New Zealand)

Directors Duties Parts II and III (15 items)Lectures in weeks 15 and 16 / Seminars 16 and 17

Relevant Legislation (1 items)

Companies Act 2006, s.171, s.172, s.173, s.174, s.175, s.176, s. 177, s.180, s.182, s.183,s.184, s.185, s.187, s.250, s.251, s.252, s.253, s.254, s.255, s.256, s.257, s.1166Insolvency Act 1986, s.214

Required Reading (3 items)for week 16 seminar

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | 331-383 (first read focussing on s.172)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 501-560 (first read focussing on s.172.)

Tackling the Issue of the Corporate Objective: An Analysis of the United Kingdom's'Enlightened Shareholder Value Approach - A Keay, 2007

Article | Core (Must Read)

Required Reading: (2 items)for week 17 seminar

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | 331-383 and 389-397

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 501-613

Further reading: (9 items)

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Who Owes Duties to the Company? (1 items)

De Facto Directors

Canadian Land Reclaiming and Colonising Co, Re (1880) 14 Ch. D. 660 Secretary of Statefor Trade and Industry v Tjolle [1998] 1 BCLC 333

Shadow Directors

Ultraframe (UK) Ltd v Felding [2005] EWHC 1638 Yukong Line Ltd v RendsburgInvestments Corp of Liberia [1998] 1 WLR 294

Distinction between Shadow and De Facto Director

Hydrodam (Corby) Ltd, Re [1994] 2 BCLC 180

Duty to Act within Powers: The ‘Proper Purpose’ Doctrine (1 items)

Hogg v Cramphorn Ltd [1967] Ch. 254

Teck Corporation Ltd v Miller (1972) 33 D.L.R. (3d) 288

Howard Smith Ltd v Ampol Petroleum Ltd [1974] AC 821

Extrasure Travel Insurances Ltd v Scattergood [2003] 1 B.C.L.C 598

Runciman v Walter Runciman plc [1992] B.C.L.C 1084. C

Criterion Properties Ltd v Stratford UK Properties LLC [2004] 1 WLR 1846

Duty to Promote the Success of the Company (1 items)

Regentcrest Ltd v Cohen [2001] 1 B.C.LC. 80

Re Smith and Fawcett Ltd [1942] Ch 304

Bristol & West Building Society v Mothew [1998] Ch 1

Directors of Subsidiary Companies in Corporate Group Situations (1items)

Charterbridge Corp v Lloyds Bank [1970] Ch. 62

Extrasure Travel Insurance Ltd v Scattergood [2003] 1 BCLC 598

Lindgren v L & P Estates Co Ltd [1968] Ch. 572

Bell v Lever Bros Ltd [1932] A.C. 161

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Duty to exercise Independent Judgment (1 items)

Kregor v Hollins (1913) 109 LT 225

Asia Bank EC v National Mutual Life Nominees Ltd [1991] 1 AC 187

Scottish Co-operative Wholesale Society Ltd v Meyer [1959] AC 324 (HL)

Levin v Clark [1962] NSWLR 686 F

Fulham Football Club Ltd v Cabra Estates plc [1994] 1 BCLC 363

Duty to Exercise Reasonable Care, Skill and Diligence (1 items)

Re Elgindata Ltd [1991] BCLC 959

Re City Equitable Fire Insurance Co Ltd [1925] Ch 407

Lister v Romford Ice & Cold Storage Co. Ltd [1957] A.C. 555

Norman v Theodore Goddard [1991] BCLC 1208

Re D'Jan of London Ltd [1994] 1 BCLC 561

Cohen v Selby [2001] 1 BCLC 176, CA

Dorchester Finance Co Ltd v Stebbing  [1989] BCLC 498

Dovey v Cory [1901] AC 477

Re Barings plc (No 5) [1999] 1 BCLC 433, [2000] 1 BCLC 523

Daniels v Anderson (1995) 16 ACSR 607, NSWCA

The 'No Conflicts' Rule (1 items)

Cook v Deeks [1916] 1 AC 554 Aberdeen Railway Co v Blaikie (1854) 1 Macq 461 (HL)

Corporate Opportunities

Regal (Hastings) Ltd v Gulliver [1942] 1 All ER 378 Boardman v Phipps [1967] 2 AC 46, HL Bhullar v Bhullar [2003] 2 BCLC 241 Wilkinson v West Coast Capital [2007] BCC 717 PesoSilver Mines Ltd v Cropper (1966) 58 DLR (2nd) 1 (Supreme Court of Canada)

Cases of Competing Directorships

Bell v Lever Brothers Ltd [1932] AC 161 London & Mashonaland Exploration Co Ltd vMashonaland Exploration Co Ltd [1891] WN 165 In Plus Group Ltd v Pyke [2002] BCLC 201

Corporate Opportunity in a post-Director phase

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Canadian Aero Service Ltd v O'Malley [1973] 40 DLR (3d) 371 Industrial DevelopmentConsultants v Cooley [1972] 1 WLR 443 CMS Dolphin Ltd v Simonet [2001] 2 BCLC 704 Island Export Finance Ltd v Umunna [1986] BCLC 460 Balston Ltd v Headline Filters Ltd[1990] FSR 385

Duty not to accept benefits from third parties

AG for Hong Kong v Reid [1994] 1 AC 324 (PC)

Duty to declare interest in proposed transaction or arrangement

Duckwari (No 2), Re [1998] 2 BCLC 315

Ratification of acts of directors

North-West Transportation Co Ltd v Beatty (1887) 12 App Cas 589 (PC)

Corporate Social Responsibility (2 items)

The Bell Group Ltd (in liquidation) v Westpac Banking Corporation (No. 9) [2008] WASC239 Standard Chartered Bank v Walker [1992] BCLC 602

Ireland P. Corporate "Governance Stakeholding and the Company – Towards a LessDegenerative Capitalism?"  (1996) 23 Journal of Law & Society 287 A.A. Berle – "CorporatePowers as Power in Trust" (1931) 44 Harvard Law Review 1049  E.M. Dodd, "For Whom areCorporate Managers' Trustees? (1932) 45 Harvard Law Review 1145 A.A.Berle,"For Whomare Corporate Managers' Trustees? – A Note" (1932) 45 Harvard Law Review 1365. Freeman R.E. Strategic Management – A Stakeholder Approach, 1984. Sealy 'Directors'"Wider" Responsibilities – Problems Conceptual, Practical and Procedural" (1987) 13Monash University Law Review 164 Parsons R. W. "The Directors' Duty of Good Faith"(1967) 5 Melbourne University Law Review 395 Stone K. "Policing Employment Contractswithin the Nexus-of-Contracts Firm" (1993) 43 University of Toronto Law Journal 353Macey J. & Miller G. "Corporate Stakeholders: A Contractual Perspective" (1993) 43University of Toronto Law Journal 401 Macey J. "An Economic Analysis of the VariousRationales for Making Shareholders the Exclusive Beneficiaries of Corporate FiduciaryDuties" (1991) 21 Stetson Law Review 23

See also the volume (1993) 43 Toronto Law Review which contains various articles on theCSR debate.

Stigmata of fiduciary duties in shadow directorship - Evripides Hadjinestoros, 2012Article

Shareholder Rights and Corporate Democracy (11 items)Lecture in week 17 / Seminar in week 19 and 20

Required Reading: (2 items)

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Chapters 10 & 11 of Company law - DignamChapter | Core (Must Read)

Chapters 17 & 20 of Gower and Davies' principles of modern company lawChapter | Core (Must Read)

Relevant Statutes (1 items)

Companies Act 2006 s.33, s.260, s.170, s.994, and s. 996.

Insolvency Act 1986 s.122(1) (g)

Further Reading (4 items)

Division of Power Through Articles of Association (1 items)

Scott v Frank F Scott (London) Ltd [1940] Ch 794 (CA)

Imperial Hydropathic Hotel Co, Blackpool v Hampson (1882) 23 Ch D 1 (CA)

Directors' Management Powers

Automatic Self-Cleansing Filter Syndicate Co Ltd v Cunninghame [1906] 2 Ch 34 (CA)

Effect of Unanimous Consent

Re Express Engineering Works Ltd [1920] 1 Ch 466 (CA)

Re Duomatic Ltd [1969] 2 Ch 365

Balancing Majorities and Minorities (1 items)

A-G v Davy (1741) 2 Atk 212

Minority Redress

Re Holders' Investment Trust [1971] 2 All ER 289

Shares as Property

Northern Counties Securities Ltd v Jackson & Steeple Ltd [1974] 1 WLR 1133 Stothers vWilliam Steward (Holdings) Ltd [1994] 2 BCLC 266

Thesus Exploration NL V Mining and Associated Industries Ltd [1973] Qd R 81 StandardChartered Bank Ltd v Walker [1992] 1 WLR 561

The 'Rule in Foss v Harbottle'

Foss v Harbottle (1843) 2 Ha. 461

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Prudential Assurance Co Ltd v Newman Industries Ltd [1982] Ch. 204

MacDougall v Gardiner (1875) 1 Ch D 13 (CA)

Carlen v Drury (1812) V & B 154

Criticism of the Rule in Foss v Harbottle

Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1981] Ch 257; [1982] Ch 204(CA)

Johnson v Gore Wood and Co Ltd [2002] 2 AC 1 (HL)

Replacement of Common Law

Edwards v Halliwell [1950] 2 All ER 1064 (CA)

Smith v Croft (No 2) [1988] Ch 114

Doctrine of Fraud on the Minority

Cook v Deeks [1916] 1 AC 554

Menier v Hooper's Telegraph Works (1874) L.R. 9 Ch. App. 350

Sidebottom v Kershaw, Leese and Co [1920] 1 Ch 154

Greenlaugh v Ardene Cinemas Ltd [1951] Ch. 286, CA

Re Holders Investment Trust [1971] 1 WLR 583

Pavlides v Jensen [1956] Ch. 565

Daniels v Daniels [1978] Ch 406

Clemens v Clemens Bros. Ltd [1976] 2 ALL ER 286

Re Swindon Town Football Club Ltd [1990] BCLC 467

Biala Pty Ltd v Mallina Holdings Ltd (1993) 11 ACSR 785 (Australia)

Smith v Croft (No 2) [1988] Ch 114

Personal Claims by shareholders (1 items)

Coleman v Myers [1977] 2 NZLR 225

Pender v Lushington (1877) 6 Ch D 70

Giles v Rhind  [2002] EWCA Civ 1428, [2003] Ch 618 (CA)

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Action for Unfairly Prejudicial Conduct: Section 994 (1 items)

Re Unisoft Group Ltd (No 3) [1994] 1 BCLC 609 at 611

Scottish Co-operative Wholesale Society Ltd v Meyer [1959] AC 324 (HL)

Re: HR Harmer Ltd [1959] 1 WLR 62, CA

Re City Branch Group Ltd [2005] 1 WLR 3505

Re Saul D Harrison & Sons plc [1995] 1 BCLC 14 (CA)

Re London School of Electronics Ltd [1986] Ch 211

Re Sam Weller & Sons Ltd [1990] Ch 682

Re Guidezone Ltd [2000] 2 BCLC 321

O'neill v Phillips [1999] 1 WLR 1092 (HL)

Re Tottenham Hotspur plc [1994] 1 BCLC 655

Capacity as a member

Re J E Cade & Son Ltd [1992] BCLC 213

Ebrahimi v Westbourne Galleries [1973] AC 360

Re a Company [1986] BCLC 376

Re Eurofinance Group Ltd [2001] BCC 551

Gamlestaden Fastigheter AB v Baltic Partners Ltd [2007] UKPC 26

Re Macro (Ipswich) Ltd [1994] 2 BCLC 354

Journal Articles (4 items)

Shareholders' Rights and the Rule in Foss v Harbottle - Wedderburn, 1957Article

The New Derivative Action - Boyle, 1997Article

Derivative Proceedings in a Brave New World for Company Management and Shareholders- Keah, Loughrey, 2010

Article

The Statutory Derivative Action: Now Showing Near You - von Nessen, 2008Article

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Corporate Governance I (9 items)week 19

Required Reading (2 items)

Company law - Dignam, Alan J., Lowry, John P., Lowry, John, c2012Book | Core (Must Read) | pgs 383 – 397 (excluding accessory liability)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | pgs 613 – 636.

Relevant Statutes (1 items)

Companies Act 2006 s.33, s.260, s.170, s.994, and s. 996.

Insolvency Act 1986 s.122(1) (g)

Further Reading (6 items)

Remedies (1 items)

Injunction or Declaration

United Pan-Europe Communications NV v Deutsche Bank AG [2000] 2 B.C.L.C. 461, CA.

Measure Bros v Measures [1910] Ch. 248

Cranleigh Precision Engineering Ltd v Bryant [1965] 1 WLR 1293

Damages or Compensation

Re: Lands Allotment Co [1894] 1 Ch. 616, CA

Joint Stock Discount Co v Brown (1869) L.R. 8 Eq. 381

Restoration of Property

JJ Harrison (Properties) Ltd v Harrison [2002] 1 B.C.L.C. 162.

Re: Forest of Deal Coal Co. (1879) 10 Ch. D. 450.

Baristow v Queen's Moat Houses Plc  [2001] 2 B.C.L.C. 531, CA.

Avoidance of Contracts

Re: Ambrose Lake Tin Co (1880) 11 Ch. D. 390, CA

Re: Cape Breton (1885) 29 C. D. 795, CA

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Erlanger v New Sombrero Phosphate Co (1878) 3 App. Cas 1218

Bentinck v Fenn (1887) 12 App. Cas 652 

Spence v Crawford [1939] 3 All ER 271, HL

Armstrong v Jackson [1917] 2 KB 822

O'Sullivan v Management Agency and Music Ltd [1985] QB 428, CA.

Account of Profits

Boardman v Phipps [1967] 2 AC 46, HL

O'Sullivan v Management Agency and Music Ltd [1985] QB 428

Guinness Plc v Saunders [1990] 2 AC 663

Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd [2011] EWCA Civ 347, [2011]3 WLR 1153, CA.

Non-ratifable Breaches (1 items)

Re: Halt Garage (1964) Ltd [1982] 3 All ER 1016

Aveling Barford Ltd. v Perion Ltd [1989] B.C.L.C. 626

Rolled Steel Products (Holdings) Ltd v British Steel Corporation [1986] Ch 246 Cook vDeeks [1916] 1 AC 554,

PC Menier v Hooper's Telegraph Works (1875) L.R. 9 Ch. App. 350 NW Transportation Co vBeatty (1887) 12 App. Cas 589, PC

Burland v Earle [1902] AC 83, PC.

Palivides v Jensen [1956] Ch 565

Daniels v Daniels [1978] Ch 406

General Provisions Exempting Directors from Liability (1 items)

Re: City Equitable Fire Insurance Co Ltd [1925] Ch 407

Conflict of Interest

Movitex Ltd v Bulfield  [1988] B.C.L.C. 104.

Industrial Developments v Cooley [1972] 1 WLR 443.

Bhullar v Bhullar [2003] EWCA Civ 424; [2003] B.C.C. 711.

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Relief (1 items)

Equitable Life Assurance Society v Bowley [2004] 1 B.C.L.C. 180

Re: D'Jan of London Ltd [1994] 1 B.C.L.C. 561

Customs and Excise Commissioners v Hedon Alpha Ltd [1981] 1 QB 818, CA.

Re: Produce Marketing Consortium Ltd [1989] 1 WLR 745.

Academic Articles (2 items)

Disentangling the Tangled Skein: The Ratification of Director's Actions - Yeung, 1992Article

Corporate Governance: Remedying and Ratifying Directors' Breaches - Worthington, 2000Article

Corporate Governance II (8 items)Lecture in week 20 / Seminar in week 21

Required Reading (2 items)

Chapter 16 of Company law - DignamChapter | Core (Must Read)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 424 - 433 and 825-840

Also highly recommended: (do not worry about the methodology!) (2items)

Corporate governance in the UK: Is the comply or explain approach working? - V Bruno, SAcot, A Faure-Grimaud, 2010

Article

One Size Does Not Fit All, After All: Evidence from Corporate Governance - Sridhar Arcot,Valentina Giulia Bruno, 2007

Article

Relevant Regulations (1 items)

UK Corporate Governance Code, September 2012.

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Further Reading (3 items)

Reports (1 items)

Report of the Committee on the Financial Aspects of Corporate Governance, 1992.(Cadbury Committee)

Directors' Remuneration, Report of a Study Group (Gee, 1995) (Greenbury Committee)

Final Report of the Committee on Corporate Governance (Gee, 1998).  (HampelCommittee)

Committee on Corporate Governance, Preliminary Report (August 1997). (HampelCommittee)

D. Higgs, Review of the Role and Effectiveness of Non-executive Directors (London: Thestationary Office, January 2003) FRC, Guidance on Audit Committees, September 2012.

Books (1 items)

Western Europe's Corporate Governance Dilemma - G HertigChapter

Articles (1 items)

Setting a fox to keep the geese - Does the comply or explain principle work? - C Andres, ETheissen, 2008

Article

Share Capital (13 items)Lectures in Week 21 / Seminars in Week 22

Required Reading (2 items)

Chapter 7 of Company law - DignamChapter | Core (Must Read)

Gower and Davies' principles of modern company law - Davies, P. L., Worthington, Sarah,Micheler, Eva, Gower, L. C. B., Gower, L. C. B., 2012

Book | Core (Must Read) | 271-376 (in outline only).

Relevant Statutes (1 items)

s.542, 553, s.582-589,  s.593-597, s.610-612, s.641--649, 658, 677, 678, 681-689, 693,694, 701, 724, 709-723, 847, 1150-1153, 1157.

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Further Reading (10 items)

Part 1: Raising Capital (1 items)Payment for Shares and Capital Maintenance

Hirsche v Sims [1894] AC 654

Systems Controls plc v Munro Corp. plc [1990] BCC 386

Non-cash consideration for shares (1 items)

Re Wragg [1897] 1 Ch 796

Re Theatrical Trust Ltd [1895] 1 Ch 771

Re White Star Line [1938] Ch. 458

Tintin Exploration Syndicate v Sandys (1947) 177 L.T. 412

Park Business Interiors Ltd v Park [1990] BCC 914

Gardner v Iredale [1912] Ch 700

Spargo's Case [1873] LR 8 Ch App Cas 407

Systems Control plc v Munro Corporate plc [1990] BCC 386

Re Ossory plc [1988] BCLC 213

Re Bradford Investments plc [1990] BCC 740

Part 2: Maintaining Capital Distributions to Shareholders (1 items)Breach of payment rules and relief from liability

Re Flitcroft's Case (1882) 2 Ch D 21

Bairstow v Queens Moat Houses plc [2000] BCC 1025, [2001] 2 BCLC 513 (CA) Inn SpiritLtd v Burns[2002] 2 BCLC 780

Moxham v Grant [1900] 1 QB 88

It's a Wrap (UK) Ltd v Gala [2006] 2 BCLC 634

Purchase and Redemption of a Company’s Own Shares (1 items)

Trevor v Whitworth (1887) 12 App. Cas. 409

Reduction of Capital (1 items)

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Re Jupiter House Investment (Cambridge) Ltd [1985] 1 WLR 975

Ex Parte Westburn Sugar Refineries Ltd [1951] AC 625

Re Ratners Group plc [1988] BCLC 685

Re Holders Investment Trust Ltd [1927] 2 All ER 289

British America Nickel Corp. Ltd v. O'Brien [1927] A.C. 369.

Indirect Return of Capital (1 items)

Re Halt Garage (1964) Ltd [1982] 3 All ER 1016

Aveling Barford Ltd v Perion Ltd [1989] BCLC 626

British & Commonwealth Holdings Ltd v Barclays Bank plc [1995] BCC 19, [1995] BCC 1059(CA)

Part 3: Financial Assistance to Purchase a Companies’ Shares (1 items)

AMG Global Nominees (Private) Ltd v SMM Holdings Ltd & Anor. [2008] EWHC 221 (Ch).

Definition of Financial Assistance (1 items)

Barclays Bank v B& C Holdings plc [1995] BCC 1059

Burton v Palmer [1980] 2 NSWLR 878

MT Realisations Ltd v Digital Equipment Co Ltd [2003] BCC 413

Parlett v Guppys (Birdport) Ltd [1996] BCC 299

Indirect Financial Assistance (1 items)

Armour Hick Northern Ltd v Armour Hick Trust Ltd [1980] 3 All ER 833 Macpherson vEuropean Strategic Bureau Ltd [2000] BCLC 683

Chaston v SWP Group plc [2003] 1 BCLC 675.

Dyment v Boyden [2004] EWCA Civ 1586

Brady v Brady [1989] AC 755

Civil Consequences of Providing Unlawful Financial Assistance (1 items)

Wallersteiner v Moir [1974] 3 All ER 217 S

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teen v Law [1964] AC 287

Victor Battery Co Ltd v Curry's Ltd [1946] Ch 242

Selangor United Rubber Estates v Cradock (No 3) [1968] 1 WLR 1555

Heald v O'Connor [1971] 1 WLR 497

Carney v Herbert [1985] AC 301

Neilson v Stewart [1991] BCC 713

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