| Commentary

20 Substantial property transactions

| Commentary

20 Substantial property transactions

Very often some or all of the shareholders in a company involved in a takeover or company reorganisation will also be directors of the company or of its holding company. This may cause complications where the shareholders are to receive assets from, or transfer assets to, the company as part of the transaction. This complication is partly because of the provisions of Section 190 of the Companies Act 2006 which prohibits a company from disposing of a non-cash asset of the requisite value1 to one of its directors or a director of its holding company or

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