Premium
Section 994 of the Companies Act 2006 and the Primacy of Contract
Author(s) -
McVea Harry
Publication year - 2012
Publication title -
the modern law review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.37
H-Index - 22
eISSN - 1468-2230
pISSN - 0026-7961
DOI - 10.1111/j.1468-2230.2012.00938.x
Subject(s) - prejudice (legal term) , statutory law , section (typography) , analogy , shareholder , law and economics , high court , law , business , political science , corporate law , economics , philosophy , epistemology , finance , advertising , corporate governance
The C ourt of A ppeal's decision in F ulham F ootball C lub (1987) L td v R ichards & A nor is both of interest and significance. By embracing the idea of the parties’ ability to ‘contract out’ of their statutory right to petition the court for relief under section 994 of the C ompanies A ct 2006 (the so‐called ‘unfair prejudice’ remedy), their L ordships have not only contrived to stunt the future development of unfair prejudice as a minority shareholder remedy but, and more importantly for the purposes of this case note, their decision has reasserted and extended the contractual analogy in modern UK company law.