Re Express Engineering Works [1920] 1 ch 466 (ca)
By Oxbridge Law TeamUpdated 04/01/2024 07:05
Reviewed ByOxbridge Law Team
Judgement for the case Re Express Engineering Works
Table Of Contents
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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