- Company law, share transfers (Nosnehpetsj Ltd (in liquidation) v Watersheds Capital Partners Ltd)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring & Insolvency analysis: In this case, the court held that it would have the power to perfect a transfer of shares if no written stock transfer form had been executed and the register of members had not been updated. There was a clear intention to transfer the shares as shown by entries in the annual returns and filed accounts for the companies in question and the insolvency of the transferee company meant that it was unconscionable to revoke the gift. The case also confirms the importance the court will attach to contemporaneous documents as against evidence of recollection. Written by Steven Fennell, barrister, at Exchange Chambers.
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