Thursday, 31 January 2019

UK: England and Wales: unfair prejudice and excessive remuneration

Judgment was given earlier this week in McCallum-Toppin & Anor v McCallum-Toppin & Ors [2019] EWHC 46 (Ch). The case concerned a successful petition under section 994 of the Companies Act 2006. This first instance judgment deserves a note here because it provides a very good illustration of the difficulties inherent in determining whether remuneration can be regarded as excessive in the context of a section 994 claim, including the appropriateness of benchmarking and comparators for a private company.

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