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The
Supreme Court hears argument today in
Farstad Supply A/S v Enviroco Limited, on appeal from
[2009] EWCA Civ 1399. The Supreme Court's case summary reports that the principal issue before the court is whether a company whose parent company pledged its controlling shares in the alleged subsidiary to a bank as security remained a subsidiary of that parent company within the meaning of
section 736 of the
Companies Act (1985) (see, now,
section 1159 and
Schedule 6 of the
Companies Act (2006)). Further details are available
here.
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