Shadows of the Past and Back to the Future: Part 11 of the UK Companies Act 2006 (in)action
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Arad Reisberg
The purpose of this article is primarily to look into the early demonstration of the new statutory procedure relating to derivative claims under Part 11 of the UK Companies Act 2006. The article is organized as follows. Section II briefly outlines the scope and the procedural framework for the application for leave of the new statutory derivative claim under Part 11 of the 2006 Act. Section III looks into an early demonstration of the new statutory procedure in practice in two recent cases, namely, Franbar Holdings Ltd v Patel and others and Mission Capital plc v Sinclair. Section III then discusses the lessons that can be drawn from these two cases. It also assesses the likely impact of these cases on the future development of the law. Section IV discusses recent important international development in relation to these proceedings. Finally, Section V draws some conclusions.
© Copyright 2009 by the European Company and Financial Law Review (ECFR)
Articles in the same Issue
- Welcome Address
- Mapping the American Shareholder Litigation Experience: A Survey of Empirical Studies of the Enforcement of the U.S. Securities Law
- Discussion Report
- Shareholders' Lawsuits against the Management of a Company and its Shareholders under French Law
- Shadows of the Past and Back to the Future: Part 11 of the UK Companies Act 2006 (in)action
- Discussion Report: On the Presentations by Prof. Bernard Grelon, Université Paris IX, and Dr. Arad Reisberg, University College London
- Representative Litigation in Italian Capital Markets: Italian Derivative Suits and (if ever) Securities Class Actions
- Shareholder Suits against the Directors of a Company, against other Shareholders and against the Company itself under Belgian Law
- Shareholder Derivative Suits: A Comparative Analysis and the Implications of the European Shareholders' Rights Directive
- Shareholder Suits: Common Problems, Different Solutions and First Steps towards a Possible Harmonisation by Means of a European Model Code
- Common Challenges Facing Shareholder Suits in Europe and the United States
- Reconciling the European Registered Capital Regime with Modern Corporate Reorganization Law: Experience from the Czech Insolvency Law Reform
- Congress Announcement: 4th ECFR Conference
Articles in the same Issue
- Welcome Address
- Mapping the American Shareholder Litigation Experience: A Survey of Empirical Studies of the Enforcement of the U.S. Securities Law
- Discussion Report
- Shareholders' Lawsuits against the Management of a Company and its Shareholders under French Law
- Shadows of the Past and Back to the Future: Part 11 of the UK Companies Act 2006 (in)action
- Discussion Report: On the Presentations by Prof. Bernard Grelon, Université Paris IX, and Dr. Arad Reisberg, University College London
- Representative Litigation in Italian Capital Markets: Italian Derivative Suits and (if ever) Securities Class Actions
- Shareholder Suits against the Directors of a Company, against other Shareholders and against the Company itself under Belgian Law
- Shareholder Derivative Suits: A Comparative Analysis and the Implications of the European Shareholders' Rights Directive
- Shareholder Suits: Common Problems, Different Solutions and First Steps towards a Possible Harmonisation by Means of a European Model Code
- Common Challenges Facing Shareholder Suits in Europe and the United States
- Reconciling the European Registered Capital Regime with Modern Corporate Reorganization Law: Experience from the Czech Insolvency Law Reform
- Congress Announcement: 4th ECFR Conference
