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Function of the Court:
In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:
"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.
Q. Approaches to defining phoenix activity? There are a number of approaches to defining phoenix activity that could be used. These approaches are summarised below. It should b
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A prominent Golfer was caught allegedly cheating on his wife. The evidence consists of emails and text messages from alleged paramours. The golfer has major endorsement contracts w
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