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Re Express Engineering Works

[1920] 1 ch 466 (ca)

Case summary last updated at 21/01/2020 20:59 by the Oxbridge Notes in-house law team.

Judgement for the case Re Express Engineering Works

All 5 shareholders of a company approved issue of debentures; according to articles, this had to be done at general meeting. Company went insolvent, liquidator alleged issue of debenture was invalid as it had not been done at general meeting. Held:
 
·       Statute was for protection of shareholders.
·       Thus given all 5 shareholders had unanimously decided to waive procedure in statute, issue of debenture valid.

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