Hearings
England & Wales
03 Feb 1961 [1961] 1 WLR 493; [1961] 1 All ER 695, Ch D (Wilberforce J)
06 Jun 1962 [1962] Ch 927; [1962] 3 WLR 566; [1962] 2 All ER 929, Ch D (Plowman J)
Parke v Daily News Ltd
Subject Matter
COMPANY — Powers — Application of assets — Proposed payments to former employees — Whether payments gratuities — Test — Validity — Action by shareholder — Application for interim injunction — No evidence by directors that payments in interest of company's business — Whether prima facie case that proposed payments ultra vires
COMPANY — Powers — Ex gratia payment — Sale of major part of business — Dismissal of majority of staff — Compensation for loss of service and pension rights — Staff not legally entitled — Payment ex gratia — Whether intra vires the company — Whether majority of shareholders entitled to ratify