It’s a Wrap (UK) Ltd v Gula CASES

It’s a Wrap (UK) Ltd v Gula [2006] EWCA Civ 544

A company in liquidation sought to recover unlawful dividends paid to director-shareholders when there were no profits available for distribution. The Court of Appeal held that shareholders are liable under section 277(1) Companies Act 1985 if they knew the facts constituting the contravention, regardless of whether they knew the legal...