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

By Oxbridge Law TeamUpdated 04/01/2024 07:05

Judgement for the case Re Halt Garage (1964) Ltd

Table Of Contents

  • Issued capital of company was two shares of £1 each; one of the two shareholders who was also a director became ill and had very little to do with company, company paid her £20 a week.

Held

  • Payment was a disguised return of capital.

  • This because the remuneration was out of all proportion to her work done for the company

  • This despite fact she only held one share of £1!

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Company law Notes
805 total pages
1068 purchased

Company law notes fully updated for recent exams in the UK. These notes...