In Gray's Timber Products Ltd v HMRC Lord Walker noted with surprise that neither side had referred in argument to Russell v Northern Bank Development Corporation Ltd where the HL had held that a provision in a shareholders' agreement excluding or restricting the company's statutory power to amend its articles was a nullity. This case had been discussed in Nigel Doran's article in Tax Journal about the Commissioner's decision. Counsel who intend taking a case to the courts should include Tax Journal articles in their research!
Personal Tax
Employment income
...
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In Gray's Timber Products Ltd v HMRC Lord Walker noted with surprise that neither side had referred in argument to Russell v Northern Bank Development Corporation Ltd where the HL had held that a provision in a shareholders' agreement excluding or restricting the company's statutory power to amend its articles was a nullity. This case had been discussed in Nigel Doran's article in Tax Journal about the Commissioner's decision. Counsel who intend taking a case to the courts should include Tax Journal articles in their research!
Personal Tax
Employment income
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
