30 Nov 2011
GRANT v COMMISSIONER OF INLAND REVENUE SC 96/2011
- Citation
- SC 96/2011
- Court
- Supreme Court
Leave to appeal was dismissed because the applicants had no real prospect of success on the primary issue: the Court agreed with the Court of Appeal that the chairman was not empowered to exercise a casting vote to secure approval where creditors in number formed a majority but represented less than the 75% value threshold required by Part 15A of the Companies Act 1993, and the appeal could not succeed unless both issues were won.