BLAW20001 Lecture Notes - Lecture 3: Unanimous Consent, De Facto, Unfair Prejudice In United Kingdom Company Law

• School: University of Melbourne
• Department: Business Law
• Course: BLAW20001
• Professor: Helen Anderson

Document Summary

Two organ. make decision in a co. (1) the co. in gm= m/s vottogether m vote collectively (2) the board= the director= the board of directors the respective power of each organ are determined by the. Board can make all decisions except for those given to the m in general meeting by the. M i(cid:374)stru(cid:272)t the (cid:271)oard to sale (cid:272)o. "s assets, d do(cid:374)"t (cid:271)elie(cid:448)e it (cid:449)as (cid:271)est i(cid:374)terest of (cid:272)o. a(cid:374)d resisted. D holding de(cid:272)isio(cid:374)s (cid:449)hether sell (cid:272)o. "s assets a(cid:374)d u(cid:374)dertaki(cid:374)g (cid:449)as a (cid:373)a(cid:374)age(cid:373)e(cid:374)t de(cid:272)isio(cid:374) that, o(cid:374) ter(cid:373)s of the (cid:272)o. "s i(cid:374)ter(cid:374)al go(cid:448)er(cid:374)a(cid:374)(cid:272)e rules, (cid:449)as (cid:449)ithi(cid:374) the po(cid:449)er of the (cid:271)oard. So (cid:373) (cid:272)a(cid:374)"t (cid:271)y ordi(cid:374)ary resolutio(cid:374) do o(cid:449)(cid:374) judg(cid:373)e(cid:374)t. Board resolved the co. should commerce litigation( ) against certain other d to recover debts owed to the co. m instigate( ) defendant d to withdraw that. D"s po(cid:449)er to (cid:272)o(cid:373)(cid:373)er(cid:272)e litigatio(cid:374) pro(cid:448)ided i(cid:374) (cid:272)o. "s i(cid:374)ter(cid:374)al go(cid:448)er(cid:374)a(cid:374)(cid:272)e rules a(cid:374)d (cid:373) (cid:272)a(cid:374)"t override the board decision.