The Court of Appeal gave judgment last week in Cream Holdings Ltd v Davenport [2011] EWCA Civ 1287 and unanimously held that the trial judge (at [2010] EWHC 3096 (Ch), [2010] All ER (D) 100 (Nov)) was right to find that a term should be implied in a company's articles of association providing that a shareholder should not unreasonably withhold his consent to the appointment of an accountant in the context of provisions in the articles for the transfer and valuation of shares.
Wednesday, 16 November 2011
UK: England and Wales: implied terms and the articles of association
The Court of Appeal gave judgment last week in Cream Holdings Ltd v Davenport [2011] EWCA Civ 1287 and unanimously held that the trial judge (at [2010] EWHC 3096 (Ch), [2010] All ER (D) 100 (Nov)) was right to find that a term should be implied in a company's articles of association providing that a shareholder should not unreasonably withhold his consent to the appointment of an accountant in the context of provisions in the articles for the transfer and valuation of shares.
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