Citation(s) [2001] EWCA Civ 712 | End date May 17, 2001 | |
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Full case name Bairstow & Others v Queen's Moat Houses Plc Decided May 17, 2001 (2001-05-17) Ruling court Court of Appeal of England and Wales | ||
Bairstow v Queens Moat Houses Plc [2001] EWCA Civ 712 is a UK company law case concerning shares.
Contents
Facts
Counsel argued that directors should be liable for unlawful distributions even when the company was solvent.
Judgment
Robert Walker LJ held that the idea that investors were getting a windfall was wrong. However it may be possible that in suing the directors, an equitable contribution from shareholders could be payable. That argument was not, however, raised here.
Sedley LJ concurred.
References
Bairstow v Queens Moat Houses plc Wikipedia(Text) CC BY-SA