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United Kingdom Leading Case proper purposecontrol and takeoversfiduciary power

Howard Smith Ltd v Ampol Petroleum Ltd

[1974] AC 821
JurisdictionUnited Kingdom
CourtPrivy Council (on appeal from the Supreme Court of New South Wales)
Year1974
StatusBinding authority

Key Principle

directors must exercise powers for proper purposes; allotment to frustrate takeover improper

Area of Law

Company and Partnership

Related Cases

Eclairs Group Ltd v JKX Oil and Gas plc [2015] UKSC 71
Bilta (UK) Ltd v Nazir (No 2) [2015] UKSC 23
Prest v Petrodel Resources Ltd [2013] UKSC 34

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