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Deadlock Ltd is a small quasi-partnership formed by four people including Mr. Chubb, Mr. Bolton and two other people holding 25 shares each and they are all directors.
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- Words:
- 1308
- Submitted:
- Wed Nov 03 2004
... Deadlock Ltd is a small quasi-partnership formed by four people including Mr. Chubb, Mr. Bolton and two other people holding 25 shares each and they are all directors. The article of association has a clause that on a resolution to remove one of the directors from his post as director, his shares carry four times the votes as other shares. After some time, the relationship between Mr. Bolton and the other members is soured. They passed a resolution at a General Meeting in accordance with s.303 CA 1985 terminating his directorship at the end of the year. They also pass a special resolution that in the interim he is to act solely on the advice and direction of the other directors. Bolton opposes these measures. Mr. Chubb refused to allow Mr. Bolton to address the other members at the meeting and since then, he has never been sent notice to
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