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COMPANY & CORPORATE LAW CASES/JUDGMENTS-3

POLICY, PRACTICE & PUBLISHING LAW REPORTS, 3PLR

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TITLE MAIN ISSUES

HICKMAN V. KENT OR ROMNEY MARSH SHEEPBREEDERS’ ASSOCIATION.

COMPANY LAW:- Company – Articles – Contract – Action by Member to enforce his Ordinary Rights – Arbitration Clause – Application by Company to stay – Sufficient Submission – Arbitration Act, 1889 (52 AND 53 Vict. c. 49), ss. 4, 27 – Companies (Consolidation) Act, 1908 (8 Edw. 7, c. 69), s. 14, sub-s. 1.
HOUSE OF FRASER V. A.C.G.E. INVESTMENTS

 

 

COMPANY LAW:- Company – Capital – Reduction – Confirmation of – Proposed reduction of capital by cancellation of preferred shares – Reduction proposals passed by special resolution at extraordinary general meeting – No separate meeting of preferred shareholders – Whether abrogation of preferred shareholders’ rights

HOWARD SMITH LTD. V. AMPOL PETROLEUM LTD. AND OTHERS

COMPANY LAW:- Company – Director – Fiduciary duty – Allotment of shares – Australian company in need of capital – Primary object of directors to alter majority share holding of issued shares – No personal advantage to directors – Whether power to allot shares validly exercised by directors
HURST V. BENNETT PARTNERSHIP – LAW FIRM:- Dissolution of – Settlement of claims and counterclaims – Undertakings as to indemnity among partners – When accrues – How resolved
HUTCHFUL V. HAMILTON KWEKU BINEY
IDEAL FILM RENTING COMPANY, LIMITED V. NIELSEN COMPANY LAW:- corporate practices – Voluntary liquidation for the purpose of capital reconstruction

IGBOZOR v. PRINCE NYONG INYANG EFFIONG & ORS.

COMPANY LAW – REGISTRATION:- Certificate of registration as a business name under Part B of the Companies and Allied Matters Act – Whether its bearer right to operate as an association/union without a certificate of registration of incorporated trustees which associations by their nature are supposed derive lives from under Part C of the Act – Whether a holder of business name certificate can operate as an association or union
IMPERIAL HYDROPATHIC HOTEL COMPANY BLACKPOOL V. HAMPSON COMPANY LAW:- Dismissal of Directors – Power of General Meeting – Alteration of Articles – Costs out of Company’s Funds.
IN RE ADAM EYTON, LIMITED. EX PARTE CHARLESWORTH. (CA) COMPANY LAW:- Winding-up – Removal of Liquidator – Companies Act, 1862 (25, 26 Vict. c. 89), ss. 93, 141 [Revised Ed. Statutes, vol. xiv. pp. 223, 233] – Appeal by Liquidator.
IN RE CROMPTON AND CO. LIMITED. PLAYER V.  CROMPTON & CO. LIMITED.

 

COMPANY LAW:- Company – Debenture – Floating Security – Covenant for Payment on Specified Day – Winding up of Company before such Day – Debenture-holders’ Action – Appointment of Receiver

IN RE H. E. THORNE AND SON LIMITED

 

COMPANY LAW:- Winding up of insolvent company – up – Secured Creditor – Mortgage of Chattels – Insurance in Creditor’s Name – Receipt of Insurance Money before Winding-up – Surplus over Secured Debt – Set-off against Unsecured Debt – Bankruptcy Act, 1883 (46 & 47 Vict. c. 52), s. 38 – Companies (Consolidation) Act, 1908 (8 Edw. 7, c. 69), s. 207.
In re HULL AND COUNTY BANK. COMPANY LAW – INSOLVENCY:- Winding-up – Creditor appearing in winding up proceedings– Whether entitled to cost as a matter of right
IN RE MERCANTILE TRADING COMPANY SCHRODER’S CASE COMPANY LAW: Shares in a Company – Payment by Confederate Bonds – Power of Directors to receive Money’s Worth
IN RE NATIONAL TELEPHONE COMPANY

 

 

COMPANY LAW:- Winding-up of company – Surplus Assets – Preference Shares – Dividend at stated Percentage – Whether amount of paid-up Capital to be returned  – Claim to further Share of Surplus  – Companies (Consolidation) Act, 1908 (8 Edw. 7, c. 69), s. 186. – How treated

INDEPENDENT AUTOMATIC SALES LTD. AND ANOTHER V. KNOWLES AND FOSTER.

COMPANY LAW:- Charge – Book-debts – Future debts – Deposit of hire-purchase agreements – Whether registrable – Whether amounts to “book-debts” – Action by company to avoid charge – Whether liquidator proper party – Companies Act, 1948 (11 AND 12 Geo. 6, c. 38), s. 95 (1) (2).
INDUSTRIAL DEVELOPMENT CONSULTANTS LTD V. COOLEY

 

 

 

 

 

COMPANY LAW:- Company Director – Duty – Fiduciary duty to company – Breach of duty – Secret profit – Liability to account – How treated

COMPANY LAW:- Directors – Duty to pass on information relevant for company to know – Director using information for own benefit – Director appointed on ground of expertise and contact secretly leveraging same to obtain contract in personal capacity – Disengagement from company on health ground without disclosing offer of contract – Whether Director liable to account to company for benefit of contract even after disengagement

INTERCONTRACTORS NIGERIA LIMITED V. N.P.F.M.B.

 

 

COMPANY LAW:- Debenture – Meaning and incidents of – Floating charges – Meaning and effect of crystallization

COMPANY LAW – DIRECTORS:- Company under Receivership – Appointment of receivers – When debenture holder may appoint – Effect and incidents of – Appointment by court – Effect and incidents of – Directors – Powers of Directors of company in receivership

INTERCONTRACTORS NIGERIA LIMITED V. N.P.F.M.B. COMPANY LAW:- Section 92(1) Companies Act 1968 – Receivership – Right of unsecured creditors
INTERMARKET NIG. LTD; ALEXANDER COZMA; G.M.E. OSADEBE

 

 

 

 

COMPANY LAW:- Receiver-manager – Appointment of – Duty of court not to make order at the instance of a party whose status is disputed – Rationale therefor

COMPANY LAW:- Receiver/manager – Appointment of – Power of Federal High Court in respect thereof – Where derived- Section 13 Federal High Court Act, Order20 rule 1 of the Federal High Court(Civil Procedure) Rules, 1976 and section 389(1) of the Companies and Allied Matters Act, 1990 considered.

INTERNATIONAL AGRICULTURAL INDUSTRIES (NIG) LTD & ANOR. CHIKA BROTHERS LTD.
INTERNATIONAL CREDIT AND INVESTMENT CO (OVERSEAS) LTD & ANOR. V. ADHAM AND ORS
INTERNATIONAL OFFSHORE CONSTRUCTION LTD V. SHORELINE LIFTBOATS NIGERIA LTD COMPANY LAW:- Veil of incorporation – Lifting of – Where individual uses names of several companies interchangeably to transact business – Consequence of
IREM V. OBUBRA DISTRICT COUNCIL AND OTHERS

IRO V. PARK AND OTHERS.

 

 

 

 

 

COMPANY LAW:- Shareholders rights – Application for removal of an absent shareholder by way of Originating Summons – Order of High Court for order empowering remaining members to call meeting of Company – Section 128(1) of Companies Decree – Removal of absent member and appointment of others – Validity

COMPANY LAW:- Disappearance of only other member – Application in Lagos High Court for order empowering remaining members to call meeting of Company – 2nd share holder not found – Section 128(1) of Companies Decree – Removal of absent member and appointment of others – Validity

IRVIN DYER V. PICLUX S.A.
ISHOLA V. SOCIETE GENERALE BANK (NIG.) LIMITED COMPANY LAW:- Acts of company -Who can testify therefore on behalf of company – Whether necessarily officer involved in such act.
IVORY MERCHANT BANK LTD. V. MAKHAM COMPANY NIG. LTD.

 

 

COMPANY LAW:– Action on behalf of a company – who can institute action.

COMMERCIAL LAW – CONTRACT:– Parties to a contract – when issue raising same can be entertained.

IYKE MEDICAL MERCHANDISE V. PFIZER, INC.

 

 

COMPANY LAW – LEGAL PERSONALITY:- Firm composed of two or more partners – Whether can sue or be sued in the firm’s name

COMPANY LAW – LEGAL PERSONALITY: – Juristic persons – Types of – Right of juristic persons to JMsue and be sued in their names

COMPANY LAW – LEGAL PERSONALITY – Right to sue or be sued – Whether can be vested by rules of court

J. A. OBANOR AND CO. LTD. V. CO-OP. BANK LTD. COMPANY LAW – Indoor management rule – Import and purport of – Application of
JACOBS v. BATAVIA AND GENERAL PLANTATIONS TRUST, LIMITED. COMPANY LAW:- – Contract contained in Two written Instruments – Prospectus – Promise in Prospectus – Deposit Notes – Collateral Contract – How treated
JETHWANI V. NIGERIA WIRE IND. PLC

 

COMPANY LAW:-  Shares – Transfer of shares – Transfer of shares to an allotee outside Nigeria – When valid – Sections 7 and 1 0(1), Exchange Control Act considered. When deemed effected Section 152(2), Companies and Allied Matters Act.

KALU MARK V. GABRIEL EKE

 

 

COMPANY LAW – Service of court process on company – Mode of – Whether can be by substituted means -Whether court process can be posted on company

COMMERCIAL LAW – CONTRACT:- Money had and received for consideration which had failed – Action for recovery of – Relevant consideration

KANO STATE OIL AND ALLIED PRODUCTS LIMITED

 

COMPANY LAW – LEGAL PERSONALITY-Incorporation of a company – Effect on legal personality thereof vis-à-vis its members and or shareholders.
KATE ENTERPRISES LTD. V. DAEWOO NIG. LTD. COMPANY LAW:- Companies – Corporate personality of – Alter-ego of companies – Officials of companies – Place of Marketing Manager – Whether alter-ego
KELNER V. BAXTER AND OTHERS

 

COMPANY LAW:- Pre-incorporation agreements – Whether company competent to ratify agreements made on its behalf by agents purporting to act for it before its legal incorporation – Relevant considerations

KOFFYFONTEIN MINES, LTD. V. MOSELY

COMPANY LAW:- Directors–Power to increase Capital–Creation and Issue of Shares – Memorandum and Articles of Association–Alteration by Special Resolution – How treated
KONAMANENI AND OTHERS V. ROLLS-ROYCE INDUSTRIAL POWER (INDIA) LTD AND OTHERS

 

 

COMPANY LAW – Minority shareholder – Representative action – Foreign company – Whether English court having jurisdiction to hear derivative claim in relation to foreign company – Whether appropriate forum for determining shareholders’ entitlement to bring derivative claim to be taken into account by English court when considering appropriate forum for trial of action – CPR 6.20(3), 19.9.
KRAUS V. BRIGHT-ORIDAMI COMPANY LAW – Mortgage debenture – Production of by Registrar of Companies – Whether sufficient evidence of its registration.
KUNLE LADEJOBI V. ODUTOLA HOLDINGS LTD.

 

 

 

 

 

 

COMPANY LAW – Action in respect of injury done to a company- Rule in Foss v. Harbottle ( 1843)2 Hare 461-Purport of- Where action is instituted by minority shareholder in respect of wrong done to company – Whether court may send issue back to general meeting to decide whether to adopt action.

COMPANY LAW – Action in the name of company – Authority to institute – Where lies – Power of shareholders to challenge.

COMPANY LAW -Action in the name of company – Whether can be maintained without authority of company – Authority to sue in the name of company – How obtained.

LAGOS CHAMBER OF COMMERCE (INC.) V. REGISTRAR OF COMPANIES  & ANOR.

COMPANY LAW:- Registrar of Companies – Registration of association for commerce promotion – Companies Ordinance (Cap. 38), section 9 (1) (b) – “Chamber of Commerce” – Whether merely descriptive and not incapable of monopoly – Whether “African Chamber of Commerce” is sufficiently different as to be registered alongside with the “Lagos Chamber of Commerce” – Relevant considerations
LAGUNAS NITRATE COMPANY V. LAGUNAS SYNDICATE COMPANY LAW:- Memorandum and Articles of Association – Promoters – Directors, Duties of – Fiduciary Relationship – Appointment of Directors of one Company as Directors of the other
LASISI V. REGISTRAR OF COMPANIES COMMERCIAL LAW:- Company Law – Powers of Registrar of Companies Whether discretionary or ministerial – Nigerian Enterprises Promotion Decree 1972 – Effect
LOCH AND ANOTHER V. JOHN BLACKWOOD, LIMITED

 

COMPANY LAW: Winding Up under – Companies (Consolidation) Act, 1908 (8 Edw. 7, c. 69, Imp.), s. 129 (vi.) – Companies Act, 1910 (No. 10 of 1910, Barbados). s. 127 (vi.). – When “Just and equitable” to wind up company

LOVELL AND CHRISTMAS V. GILBERT

 

 

COMPANY LAW:-  Firm – Partnership – Infants – Right of an infant to become a partner with a trader – Right and obligations arising therefrom – Whether adult partner is entitled to insist that the partnership assets be applied in payment of the liabilities of the partnership before any part of them shall be received by the infant partner – Whether this right of the adult partner can be made available for the benefit of the creditors
LYLE & SCOTT LTD V. SCOTT’S TRUSTEES

 

 

COMPANY LAW:- Shares – Transfer – Restriction imposed by articles of association – Notice to be given to secretary of desire to “transfer”- Agreement to sell shares to third person without completing transfers for the time being – Whether compliance with article requiring notice of the transfer to be given enforceable.

M.C. OKANUME V. U.A.C. NIG. PLC.

COMPANY LAW – LEGAL PERSONALITY:- Division of a conglomerate – Capacity to enter contracts as disclosed agency of its parent company – Whether principal retains right as proper party for the enforcement of contracts entered into by division
M.I. EDIONHON V. UNION BANK OF NIGERIA PLC COMPANY LAW:– Shareholder – Right to share dividends – Where not paid – How proved

MACDOUGALL V. GARDINER

COMPANY LAW: Corporate Practice – Bill against Directors of Company – Shareholder’s Suit on behalf – Authority of Chairman of Meeting – Motion for Adjournment – Mode of taking Votes – How treated
MACKSON IKENI V. CHIEF WILLIAM AKUMA EFAMO COMPANY LAW – LEGAL PERSONALITY:– Proof of juristic personality in the event of dispute to sue and be sued.

MAGBAGBEOLA V. SANNI

 

 

 

 

COMPANY LAW:- Incorporation of company- How proved -Addition of “ltd. “ or “Plc. “to the name of a firm – Whether itself proof that it has been incorporated under Companies and Allied Matters Act

COMPANY LAW:- Arbitration – Appointment of arbitrator – Jurisdiction with respect thereto – In which court resides as between State and Federal High Court

COMPANY LAW:- Arbitration – Appointment of arbitrator – Law governing same – Whether Companies and Allied Matters Act applicable thereto

METAL CONSTRUCTION (W.A) LTD & ORS V. MRS. D.A. MIGLIORE & ANOR.

 

COMPANY LAW:- Shares of a company – Transfer of majority shares of company to Administrators of the Estate of its deceased owners – How effected – Award of new Certificate and Rectification of Company Register – Duty of Company thereto – Where refused or unduly delayed – Right of Administrators to enforce same

 

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