Quote:
Originally Posted by Haggis316
No. If any shareholder or creditor disagrees with any shareholder's position that position could possibly be subject to legal review in the English civil courts who apply the principles of company or (as applicable) insolvency law to the situation and may rule against the majority shareholder.
Of course in the absence of such a challenge you are right.
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Thanks for the insight Haggis, But if this is a civil matter and subject to quite high costs and possibilty of failure of such a challange, could this be a rarely successful challenge ?
And once you have challenged a fellow director in court I bet relations would never be same again.