The Situation: Directors in England and Wales owe duties to the companies to which they are appointed (and may face personal liability for breaching such duties). Although the Companies Act 2006 ...
The case arose because in May 2009, the directors of a company (“AWA”) paid nearly all of its net assets of €135 million as a dividend (the “May 2009 Dividend”) to its sole shareholder (“Sequana”). At ...
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