Derivative Claims - Where Are We Now?
- Podcast Location:
- Download it here [file size: 27.3 MB]
- Categories:
-
Company Law
- CPD Points:
- Up to 1 point. details »
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- Length:
- 30 minutes of audio
(+ optional 5 minute online quiz) - Plays on Computer:
- Yes Downloadable as MP3: Yes
- Contributor(s):
- Course Aims:
This podcast aims to review the derivative action procedure as set out in Part 10 Companies Act 2006. It will review how the law has changed since it was codified and the approach of the courts to granting permission for a claim to go forward. The podcast also addresses a number of recent cases that apply the new law.
- Outcomes:
- After completing the course you will:
- Understand the types of claims that are actionable as a derivative actions;
- Understand how the new regime compares with the old common law rules before the 2006 Act;
- Understand who are the parties to a derivative claim and their role in proceedings;
- Be aware of the factors the court is obliged to consider under the new Act;
- Be aware of the bars to bringing a derivative claim;
- Be aware of recent case law and the approach of the courts to the new style derivative claims;
- Be aware of the possible claims that might be brought at the edges of the new regime under the common law;
- Understand how a derivative claim proceeds and the importance of the permission stage;
- Understand the relationship between unfair prejudice applications and derivative claims.
- Level:
- Beginner
- Classification:
-
Case Update
Legal Principles
- Sources and References:
-
- Companies Act 2006 ss 31, 172, 263(3)(a), 260-4, 994-6;
- CPR Part 19.9-19.9F,;
- CPR Practice Direction 19C;
- Kiani v Cooper & Ors [2010] All ER (D) 97;
- Stainer v Lee & Ors [2010] EWHC 1539 (Ch);
- Franbar Holdings Ltd v Patel & Ors [2008] EWHC 1534 (Ch);
- Foss v Harbottle (1843) 67 ER 189;
- Mission Capital plc v Sinclair [2008] EWHC 1339 (Ch);
- Carlisle & Cumbria United Independent Supporters' Society Ltd v C.U.F.C. [2010] EWCA Civ 463;
- Cinematic Finance Ltd v Ryder [2010] EWHC 3387 (Ch);
- Iesini v Westrip Holdings Ltd [2009] EWHC 2526 (Ch).
This podcast with Chancery barrister Claire Staddon, discusses derivative claims under the Companies Act 2006. A derivative claim provides a shareholder with a means to bring a claim on behalf of their company against those who have done it wrong.
Along with many areas of modern company law, derivative claims underwent a large-scale codification when the Companies Act 2006 was enacted. This podcast reviews how the new derivative action is supposed to work and what have been the developments since 2007.
Podcast added: 09/05/11
