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Right and Issue Investment Trust Ltd v Stylo Shoes Ltd

[1965] Ch. 250

Case summary last updated at 21/01/2020 15:26 by the Oxbridge Notes in-house law team.

Judgement for the case Right and Issue Investment Trust Ltd v Stylo Shoes Ltd

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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