Trevor V Whitworth Summary

Summary

Trevor v Whitworth (1887) established that a company cannot purchase its own shares to protect creditors by preserving company capital. Section 115 of the Companies Act 2016 in Malaysia regulates share buybacks, ensuring legal and financial compliance. Section 116 governs share capital reduction, requiring a special resolution and court confirmation. In Re Ransomes PLC (1999), the court allowed share capital reduction if legal requirements were met, creditors were protected, and solvency was maintained.

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case law about section *
Section * of the Companies Act * in Malaysia deals with the rules regarding the buyback of shares by a company. It ensures that companies follow specific legal and financial guidelines when repurchasing their shares to protect the interests of creditors and shareholders.
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case law about reduction of share capital
In Malaysia, the reduction of share capital is governed by Section * of the Companies Act *. This section outlines the process and conditions under which a company can reduce its share capital, including the requirement for a special resolution and confirmation by the court. If you want more detailed information or specific case law examples, feel free to ask!
summarize about Re Ransomes PLC *
Case Rating: *
Re Ransomes PLC (*): This case involved the reduction of share capital. The court analyzed the process and conditions under which Ransomes PLC could reduce its capital. The focus was on ensuring compliance with the legal requirements, protecting creditors, and maintaining company solvency.
and the court held
Case Rating: *
In Re Ransomes PLC (*), the court held that the company's reduction of share capital was permissible, provided it complied with legal requirements, protected creditors, and maintained solvency. If you have more questions or need further clarification, feel free to ask!