Podcast Location:
Download it here [file size: 20.9 MB]
Categories:
Corporate & Commercial Law
Litigation & Dispute Resolution
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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Regulated by ILEX:
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Cost:
  • FREE
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 examine the rule in Foss v Harbottle (1843) prohibiting the recovery of reflective losses and the limits to this prohibition. The new basis for bringing a statutory derivative claim under Part 11 of the Companies Act 2006 is then discussed.

Outcomes:
After completing the course you will:
  • Understand the general prohibition on recovery of reflective losses and the limits to this prohibition ;
  • Know which recent cases in which it has been applied ;
  • Know the new basis for bringing a statutory derivative claim ;
  • Understand who can bring this kind of claim and the situations in which a party's conduct may disqualify him from bringing such a claim ;
  • Know what requirements must be met for the courts to give permission for a derivative claim to be brought.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Legal Principles
Sources and References:
  • Prudential Assurance v Newman [1982] 1 Ch 204 at 210;
  • Johnson v Gore Wood [2002] 2 AC 1;
  • Foss v Harbottle (1843) 2 Hare 461;
  • Hare 461 Shaker v Al-Bedrawi [2002] EWCA Civ 1452;
  • Rushmer v Mervyn Smith [2009] EWHC 94 (QB);
  • Rawnsley v Weatherall Green & Smith [2009] EWHC 2482 (Ch);
  • Gaetano Ltd v Obertor Ltd [2009] EWHC 2653 (Ch);
  • George Fischer (Great Britain) Ltd v Multi Construction Ltd [1995] 1 BCLC 260;
  • Giles v Rhind [2002] EWCA Civ 1428;
  • Waddington v Chan Chun Hoo Thomas [2008] HK CU 1381;
  • Webster v Sandersons [2009] EWCA Civ 830 ;
  • Seaton v Grant (1867) 2 Ch App 459 at 465;
  • Harley Street Capital v Tchigirinsky [2005] EWHC 1897 Ch;
  • Nurcombe v Nurcombe [1985] 1 WLR 370, 376;
  • Barrett v Duckett [1995] 1 BCLC 243;
  • Konamaneni v Rolls Royce Industrial Power (India) [2002] 1 WLR 1269 ;
  • Airey v Cordell [2006] EWHC 2728 ;
  • Franbar Holdings v Patel [2008] EWHC 1534;
  • Lowe v Fahey [1996] 1 BCLC 262.

This podcast with Dov Ohrenstein of Radcliffe Chambers examines the general prohibition on recovery of reflective losses by shareholders and the ability of shareholders to bring derivative claims in light of this prohibition.

podcast added 29/04/10

Podcast last reviewed: 2012-01-30

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