Duty to Promote Success of Company Flashcards
(6 cards)
1
Q
What section is the duty to promote success of the company?
A
Section 172 of the CA 2006
2
Q
How would Aisha Khan prove she is acting to promote the success of the company?
A
Would need to have records of operate as to why she did this
3
Q
What case is similar to what Aisha has done regarding the duty to promote success of the company?
A
Hellard and others v Carvalho
- authorised payments from company to himself
- made to reimburse most of money
4
Q
What is the less obvious way David and Chen may not be promoting the success of the company?
A
Not properly taken account of risks of expansion
5
Q
What may happen to Chen?
A
Regulatory bodies like Insolvency Service or FCA may investigate him
6
Q
What can Emily do?
A
Bring about derivative action
