Right and Issue Investment Trust Ltd v Stylo Shoes Ltd [1965] Ch. 250
Judgement for the case Right and Issue Investment Trust Ltd v Stylo Shoes Ltd
Table Of Contents
Company issued new shares.
To ensure continuity of management, was decided to double voting rights on shares owned by managers so that they retained same degree of control.
Resolution was challenged.
Held
Majority believed in good faith that it was in interests of company for management to retain control.
Therefore was no oppression involved.
Objective test. Did not matter that certain shareholders stood to benefit from the resolution, as those who had supported it genuinely believed it was in interests of company.
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