United Kingdom uncategorized

Hogg v Cramphorn Ltd

[1967] Ch 254; [1966] 3 WLR 995; [1966] 3 All ER 420

JurisdictionUnited Kingdom

CourtHigh Court of Justice, Chancery Division (England and Wales)

Year1966

StatusPersuasive authority

Key Principle

The power to issue shares is a fiduciary power that must be exercised for a proper purpose; an issue made to dilute votes and frustrate a takeover is invalid even if the directors honestly believed it was in the company's interests, though it may be ratified by the company in general meeting.

Area of Law

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Statoil ASA v Louis Dreyfus Energy Services LP [2008] EWHC 2257 (Comm); [2008] 2 Lloyd's Rep 685; [2008] 2 CLC 520

Statoil ASA v Louis Dreyfus Energy Services LP (The Harriette N) [2008] EWHC 2257 (Comm); [2008] 2 Lloyd's Rep 685; [2009] 1 All ER (Comm) 1035

R v Rahman [2008] UKHL 45; [2009] 1 AC 129; [2008] 3 WLR 264; [2008] 4 All ER 351

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