Web5 minutes know interesting legal mattersBorland's Trustee v Steel Bros & Co. Ltd [1901] 1 Ch 279 (Ch) (UK Caselaw) Borland’s Trustee v Steel Brothers & Co Ltd [1901] 1 Ch 279 is a UK company law case, concerning the enforceability of a company's constitution and the nature of a company share. It is also one of the rare exceptions to the rule that a transfer of assets which only takes effect upon a person's bankruptcy is … See more Steel Bros Ltd’s articles of association said if a member went bankrupt his shares would be transferred to designated persons at a fair price not above par value. Mr JE Borland held 73 £100 shares and went bankrupt, and … See more The case was cited with approval in the decision of the Privy Council in the leading case of Cambridge Gas Transport Corp v Official Committee of Unsecured Creditors (of Navigator Holdings Plc and Others) See more 1. ^ See now CA 2006 s 33 2. ^ [1901] 1 Ch 279, 287-291 3. ^ 21 Ch. D. 302 4. ^ Challis on Real Property, 2nd ed., App. V. p. 401 5. ^ 10 H. L. C. 367 See more Farwell J rejected Borland Trustee’s argument and held the article was valid. The transfer could be made, because the contract engendered in the articles of association are prior to the rights contained in a share. He said the argument that the … See more • UK company law • Capacity in English law • Agency in English law • Navigator Gas LLC See more • LLB Lecture Notes – what is a share? See more
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WebBorland s Trustee v Steel Brothers. Business Associations 100% (1) Borland s Trustee v Steel Brothers. 4. Law 434 business associations. Business Associations 100% (1) ... WebBorland’s Trustee v Steel Bros & Co Ltd (1901) Mr Borland had 73 £100 shares in the defendant company. The company’s articles of association provided that on the … WebBorland’s Trustee v Steel Brothers & Co Ltd [1901] 1 Ch 279 is a UK company. law case, concerning the enforceability of a company's constitution and the nature of a company share. It is also one of the rare exceptions to the rule that a transfer of assets which only takes effect upon a person's bankruptcy is normally void.. Facts Steel Bros Ltd’s articles … green salad with craisins