Scottish Power Co., Ltd Petitioners [1916] ScotLR 382 (30 November 1916)

Scottish Power Co., Ltd Petitioners [1916] ScotLR 382 (30 November 1916)

The Court held that since the scheme resulted in a net increase of capital and did not affect liability or paid-up capital, it was expedient to dispense with the requirement to add 'and reduced' to the company name.

Citation
[1916] ScotLR 382
Parties
Petitioner: Scottish Power Company, Limited
Jurisdiction
Scotland
Judgment Date
30 November 1916
Procedural Posture
Company Petition / Application for Interim Authority Prior to Confirmation of Capital Reduction
Outcome
Prayer of the note granted
Legal Topics
Reduction of Capital, Scheme of Arrangement, Dispensation With Addition to Company Name
Company Law Reduction of Capital Scheme of Arrangement Dispensation With Addition to Company Name

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Parties

Scottish Power Company, Limited

Petitioner

Procedural Posture

Company Petition / Application for Interim Authority Prior to Confirmation of Capital Reduction

Legal Issues

  1. 1 Whether the Court can dispense with the requirement to add 'and reduced' to the company name prior to confirmation of capital reduction

Ratio Decidendi

The Court held that since the scheme resulted in a net increase of capital and did not affect liability or paid-up capital, it was expedient to dispense with the requirement to add 'and reduced' to the company name.

Court Disposition

Prayer of the note granted

Orders

  • Authority granted to dispense with the addition of 'and reduced' to the company name pending confirmation of capital reduction