Re Noel Tedman Holdings Pty Ltd [1967]

S.20 (a) Separate legal entity

Re Noel Tedman Holdings Pty Ltd [1967]

Gilford Motor Co. v Horner (1933)

Lim Kar Bee v Duofortis Properties (M) Sdn Bhd

Hotel Jaya Puri Bhd v National Union Hotel, Bar & Restaurant Workers

When the company is employed as an agent / alter ego to its members

Gilford Motor Co. v Horne {[1933]

When the company is employed to evade legal obligation or to commit fraud

Gilford Motor Co. v Horne [1933]

Re Noel Tedman Holdings Pty Ltd [1967]

Lim Kar Bee v Duofortis Properties (M) Sdn Bhd

Hotel Jaya Puri Bhd v National Union Hotel, Bar & Restaurant Workers

Gilford Motor Co. v Horne [1933]

Hotel Jaya Puri Bhd v National Union Hotel, Bar & Restaurant Workers

When in certain situations, it involves group of companies which has been treated as single corporate entity

Hotel Jaya Puri Bhd v National Union of Hotel, Bar & Restaurant Workers

Gilford Motor Co. v Horne [1933]

Dividend may be declared from increases in circulating capital without providing for losses of fixed capital.

Lee v Neuchatel Asphalte Co ; Verner v General & Commercial Investment

Ammonia Soda Co Ltd b Chamberlain

Hilton International v Hilton [1988]

Marra Development Ltd v B.W. Rofe Pty Ltd

Lubbock v British Bank of South America

Dividend may be declared from a profit arising from thesale of fixed assets

Profit used for paying dividend must come from company's profits

Dividend cannot be declared unless company gain profit when declaration of dividend is made

Dividend cannot be declared if this would result in he comany being unable to pay its debt as they fall due (insolvent)

Dividend cannot be declared if this would result in the company being unable to pay its debt as they fall due (insolvent)

Hilton International v Hilton [1988]

Lim Kar Bee v Duofortis Properties (M) Sdn Bhd

Dividend may be declared from current financial year profits despite losses of circulationg capital in previous year.

Hilton International v Hilton [1988]

Lee v Neuchatel Asphalte Co ; Verner v General & Commercial Investment

Marra Development Ltd v B.W. Rofe Pty Ltd

Burland v Earle [1902]

Shareholder cannot compel a distribution of dividends

Profit used for paying dividend must come from company's profits.

Dividend may be declared from profit arising from the sale of fixed assets

Rules relating to the payment of dividend

Dividend cannot be declared unless company gain profits when declaration of dividend is made

Dividend may be declared from increases in circulating capital without providing for losses of fixed capital

Dividend may be declared from current financial year profits despite losses circulating capital in previous years.

Shareholder cannot compel a distribution of dividends

Chitty J in Levy v Abercorris Slate 7 Slab Co [1887]

Crystallization of fixed charges

Johore Para Rubber Co Ltd v Registrar of Company

Registered charges have priority in order of registration with the registrar

Johore Para Rubber Co Ltd v Registar of Companies

Kay Hian & Co. Pte (Ltd) v John Phua Ooi Yang & Ors

Re Vallertort Sanitary Steam Laundry Co Ltd [1903]

Re Yokshire Woolcombers' Association Ltd

Gov Stock & Other Securities v Manila Rail Co

Bensa Sdn Bhd v Malayan Banking Berhad

Crystallization of floating charge

Rights attach to shares confer on the holders is rights as members

Re Kong Thai Sawmills (Miri) Sdn Bhd

Scottish Co-Operative Wholesale Society Ltd v Meyer [1959]

Re Kong Thai Sawmills (Miri) Sdn Bhd

Re Overton Holdings Pty Ltd [1984]

Situations where S.346(1) may be applicable : They had planned for their own interests or their selected ones whilst making loss.

Re Bright Pine Mills Pty Ltd [1969]

Re Overton Holdings Pty Ltd (1984)

Directors cause the company to acquire loan that it does not need and with no financial interests at unrealistic terms.

Re Overton Holdings Pty Ltd [1984]

Re Bright Pine Mills Pty Ltd [1969]

The action is continuing as the date of suit

Re Overton Holdings Pty Ltd [1984]

Re Bright Pine Mills Pty Ltd [1969]

John Shaw & Sons (Salford) Ltd v Shaw [1935]

Fiduciary duties: Acting in good faith for the best interest of the company

Winkworth v Edward Baron Development Co. Ltd

No conflict of interest between directors and the company

Winkworth v Edward Baron Development Co. Ltd

Winkworth v Edward Baron Development Co Ltd

Fiduciary duties: Acting in good faith for the best interest of the company

Fiduciary duties: No conflict of interest between directors and the company

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Macaura v Nothern Assurance Co. Ltd

Foss v Harbottle [1843]

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