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Restructuring and Insolvency highlights: register of members voting rights, Part 26A plan debriefs, bankruptcy restrictions and passport orders, directors’ misfeasance, and BBL enforcement — 29 August 2024

Published on: 29 August 2024

Published by a LexisNexis Restructuring & Insolvency expert

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Article summary

Restructuring & Insolvency weekly highlights—29 August 2024

In this issue:

Corporate insolvency processes
Restructuring
Personal insolvency
Directors and insolvency
Daily and weekly news alerts
Corporate Rescue and Insolvency (August 2024 edition)
New Q&A

Corporate insolvency processes

Company’s register of members | Conclusive or not for voting rights? (Bland v Keegan)

In proceedings relating to JDK Construction Ltd (JDK), the Court of Appeal examined a challenge to the lawfulness of a written resolution appointing joint liquidators, alongside allegations of an unauthorised share transfer form. The Appellant argued her shares in JDK were wrongfully transferred, rendering the liquidators’ appointment invalid. The key question was whether the company’s register of members—recording her shares as transferred—was determinative for validating the members’ resolution. Affirming the decision of His Honour Judge Hodge KC, the Court of Appeal held that the register stands as prima facie evidence of who the members are and of the validity of resolutions passed by them, unless and until the court orders rectification. Although forgery was alleged, there was no direct authority on striking a member’s name from the register due to forgery in a way that would vitiate voting rights...

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