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Law Cases
Company Law Cases
Company Constitution Cases

Right and Issue Investment Trust Ltd v Stylo Shoes Ltd [1965] Ch. 250

Country:
United Kingdom
By Oxbridge Law Team
Held

  • 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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