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Commentary

234 Effect of irregularities

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

234 Effect of irregularities

| Commentary

234 Effect of irregularities

The complexities of the law governing company reorganisations under the auspices of Section 110 of the Insolvency Act 1986 make it easy for some point of detail to be overlooked, and it would be disconcerting if a member of the original company could have the transaction upset on that account long after it had been carried out. The court has eliminated this possibility by holding that any member of the original company who has accepted shares, or other interests, in the purchasing company is estopped from disputing the validity of the arrangement1, and a member who

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