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Total questions: 44
Worksheet time: 23mins
Chapter 6: incorporation of compan - Availability of name
Solomon v A Solomon Co. & Ltd (1897)
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor) [2014]
Chitty J in Levy v Abercorns 7 Slab Co.
Lee v Lee's Air Farming [1961]
S.27(5)
Ammonia Soda Co Ltd v Chamberlain
Re Spanish Prospecting Co (1911)
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor)
Totex - Adon Pty Ltd v Marco
Availability of name
Re Benjamin Cope and Sons Ltd
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor) [2014]
Evans v Rival Granite Quarries Ltd [1910]
Pender v Lushington [1877]
Incorporation of company - Availabillity of name
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor) [2014]
North-West Transportation Co.Ltd v Beatty [1887]
Re Kong Thai Swamills Sdn Bhd
Industrial Equity Ltd v Blackburn
Court held that the word 'Angkasa was not descriptive of any business and as such no one ought to monopoly over the usage of particular word as a trade name.
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Ors)
Barron v Parter (1914)
Boardman v Phipps [1967]
Regal (Hastings) Ltd v Gulliver
S.20 Power of body corporate
Lee v Lee's Air Farming [1961]
Foss v Harbottle [1843]
Macaura v Nothern Assurance Co Ltd
Re Noel Tedman Holding Pty Ltd [1967]
S.21 (1) (a) To sue and be sued
Re Noel Tedman Holdings Pty Ltd
Lee v Lee's Air Farming [1961]
Macaura v Nothern Assurance Co. Ltd
Foss v Harbottle [1843]
S21(1) a & b
Lee v Lee's Air Farming [1961]
Re Noel Tedman Holdings Pty Ltd [1967]
Foss v Harbottle [1843]
Macaura v Nothern Assurance Co Ltd
S.21(1) b - To acquire, own, hold, develop or dispose of any property
Macaura v Nothern Assurance Co.Ltd
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Syarikat Malaysia & Anor) [2014]
Re Noel Tedman Holding Pty Ltd [1967]
Foss v Harbottle [1843]
S.20 (a) Separate legal entity
Re Noel Tedman Holdings Pty Ltd [1967]
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor]
Lee v Lee's Air Farming [1961]
Gilford Motor Co. v Horner (1933)
Section 33(1)
Aspatra Sdn Bhd v BBMB
Lim Kar Bee v Duofortis Properties (M) Sdn Bhd
Hickman v Kent
Hotel Jaya Puri Bhd v National Union Hotel, Bar & Restaurant Workers
Hickman v Kent
Effect of constitution
Effect of incorporation
Incorporation of company
Judicial Exception
Aspatra Sdn Bhd v BBMB
Effect of constitution
Effect of incorporation
Judicial Exception
Availability of name
When the company is employed as an agent / alter ego to its members
Angkasa Jurutera Perunding Sdn Bhd v Pendaftar Syarikat (Ketua Pengarah Eksekutif Suruhanjaya Syarikat Malaysia & Anor) [2014]
Aspatra Sdn Bhd v BBMB
Gilford Motor Co. v Horne {[1933]
Foss v Harbottle
When the company is employed to evade legal obligation or to commit fraud
Aspatra Sdn Bhd v BBMB
Re Noel Tedman Holdings Pty Ltd [1967]
Lee v Lee's Air Farming [1961]
Gilford Motor Co. v Horne [1933]
Evading tax payment
Lim Kar Bee v Duofortis Properties (M) Sdn Bhd
Hickman v Kent
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
Availability of name
Perpetual Succesion
When in certain situations, it involves group of companies which has been treated as single corporate entity
Effect of constitution
Judicial Exceptions
Hotel Jaya Puri Bhd v National Union of Hotel, Bar & Restaurant Workers
Gilford Motor Co. v Horne [1933]
Hickman v Kent
Macaura v Nothern Assurance Co. Ltd.
Aspatra Sdn Bhd v BBMB, Lim Kar Bee v Duofortis Properties (M) Sdn Bhd
Effects of constitution
Effect of incorporation
Judicial Exception
Statutory Exception
Re Spanish Prospecting Co [1911]
What is profit?
Dividend may be declared from increases in circulating capital without providing losses of fixed assests
Shareholder can not compel a distribution of dividends
Dividend may be declared from current financial year profits despite lossess of circulating capital in previous years.
Dividend may be declared from increases in circulating capital without providing for losses of fixed capital.
Ammonia Soda Co Ltd b Chamberlain
Hilton International v Hilton [1988]
Marra Development Ltd v B.W. Rofe Pty Ltd
Lee v Neuchatel Asphalte Co ; Verner v General & Commercial Investment
Lubbock v British Bank of South America
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 may be declared from a profit arising from thesale of fixed assets
Dividend cannot be declared if this would result in he comany being unable to pay its debt as they fall due (insolvent)
Industrial Equity Ltd v Blackburn
Shareholders cannot compel a distribution of dividends
Profit used for paying dividend must come from company's profit.
Dividend may be declared from the increases in circulating capital without providing for losses of fixed assets.
Dividend cannot be declared if this would result in the company 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)
Industrial Equity Ltd v Blackburn
North-West Transportation Co Ltd v Beatty (1887)
Lim Kar Bee v Duofortis Properties (M) Sdn Bhd
Hilton International v Hilton [1988]
Dividend may be declared from current financial year profits despite losses of circulationg capital in previous year.
Ammonia Soda Co Ltd v Chamberlain
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]
What is profit?
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
Shareholder cannot compel a distribution of dividends
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.
Chitty J in Levy v Abercorris Slate 7 Slab Co [1887]
Floating Charge
Fixed vs Floating Charge
Crystallization of fixed charges
Debenture
Johore Para Rubber Co Ltd v Registrar of Company
Registered charges have priority in order of registration with the registrar
Negative pledges
Registration of charges
Fixed vs floating charge
S.352 (1)
Johore Para Rubber Co Ltd v Registar of Companies
Re Benjamin Cope and Sons Ltd
Kay Hian & Co. Pte (Ltd) v John Phua Ooi Yang & Ors
Re Vallertort Sanitary Steam Laundry Co Ltd [1903]
Floating charges
Re Yokshire Woolcombers' Association Ltd
Re Benjamin Cope & Sons Ltd
Evans v Rival Granite Quarries Ltd [1910]
Gov Stock & Other Securities v Manila Rail Co
Bensa Sdn Bhd v Malayan Banking Berhad
Debenture
Floating Charge
Fixed vs Floating Charge
Crystallization of floating charge
Re Vallertort Sanitary Steam Laundry Co Ltd [1903]
Priority of charges
Negative pledges
Registration of charges
Debenture
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]
Pender v Lushington [1877]
North-West Transportation Co. Ltd v Beatty [1887]
Oppression
Re Kong Thai Sawmills (Miri) Sdn Bhd
Re Chi Liung & Sons Ltd [1968]
Scottish Co-Operative Wholesale Society Ltd v Meyer [1959]
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 Overton Holdings Pty Ltd (1984)
Re Bright Pine Mills Pty Ltd [1969]
Barror v Parter [1914]
Re Kong Thai Sawmills Sdn Bhd
Directors cause the company to acquire loan that it does not need and with no financial interests at unrealistic terms.
Re HR Harmer Ltd [1958]
Re Bright Pine Mills Pty Ltd [1969]
Re Overton Holdings Pty Ltd [1984]
Re Kong Thai Sawmills Sdn Bhd
The action is continuing as the date of suit
Re Kong Thai Sawmills Sdn Bhd
Re Chi Liung & Sons Ltd [1968]
Re Overton Holdings Pty Ltd [1984]
Re Bright Pine Mills Pty Ltd [1969]
Management Power
Barron v Porter [1914]
Boardman v Phipps [1987]
Regal (Hastings) Ltd v Gulliver
John Shaw & Sons (Salford) Ltd v Shaw [1935]
Deadlock
Regal (Hastings) Ltd v Gulliver
Totex-Adon Pty Ltd v Marco
Barron v Porter [1914]
Boardman v Phipps [1967]
Fiduciary duties: Acting in good faith for the best interest of the company
Winkworth v Edward Baron Development Co. Ltd
Grove v Flavel
Totex - Adon Pty Ltd v Marco
Boardman v Phipps [1967]
No conflict of interest between directors and the company
Winkworth v Edward Baron Development Co. Ltd
Boardman v Phipps [1967]
Grove v Flavel
Regal (Hastings) Ltd v Gulliver
Directors use his positions as a director to gain personal profit
Grove v Flavel
Totex - Adon Pty Ltd v Marco
Regal (Hastings) Ltd v Gulliver
Cook v Deeks
Winkworth v Edward Baron Development Co Ltd
Fiduciary duties: No conflict of interest between directors and the company
Fiduciary duties: Acting in good faith for the best interest of the company
Management power
Deadlock
