232.3 Choice of action by dissenting memberAlthough the Insolvency Act 1986 is careful to preserve the rights of a dissenting shareholder, it does little to assist him in making an intelligent choice whether to accept the purchasing company’s shares, or to take the cash price offered by the liquidator for his existing shares, or to have the value of those shares determined by arbitration. It has been held that the member cannot require the liquidator to produce the company’s books and accounts to enable him to decide which course to pursue1, nor may he have the officers
Although the Insolvency Act 1986 is careful to preserve the rights of a dissenting shareholder, it does little to assist him in making an intelligent choice whether to accept the purchasing company’s shares, or to take the cash price offered by the liquidator for his existing shares, or to have the value of those shares determined by arbitration. It has been held that the member cannot require the liquidator to produce the company’s books and accounts to enable him to decide which course to pursue1, nor may he have the officers
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