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White v Bristol Aeroplane [1953] 2 WLR 144

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

Judgement for the case White v Bristol Aeroplane

Table Of Contents

  • Articles of company had provision requiring special procedure to be followed where class rights were to be ‘affected’ in any manner.

  • Company proposed to issue new preference shares ranking paripassu with existing preference shares.

Held

  • Rights of existing preference shareholders were not affected by issue of paripassu preference shares.

  • This because in formal terms rights of preference shareholder would be the same, albeit that the voting power attached to each preference share would be less effective than before

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