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"British company law has failed, to come to grips with the problems posed by purely groups of companies, Adams v Cape Industries shows the dark side of this failure" - Explain and discuss this statement.
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Jamie Tredgold "British company law has failed, to come to grips with the problems posed by purely groups of companies, Adams v Cape Industries shows the dark side of this failure" Explain and discuss this statement. The recent investigation into accounting irregularities at Hollinger International has reportedly,1 "focused upon the $5.5m of so called "non-compete payments" to senior executives purportedly arising from a deal with a wholly owned subsidiary... Investigators are... asking Lord Black, Hollinger's former chief executive, and others how they were supposed to refrain from competing with themselves..." Whilst any allegations of wrongdoing are yet to be substantiated, it is doubtful as to whether British company law will be able to provide an appropriate mechanism with which to deal with any irregularities which may arise. This essay will evaluate a number of the provisions contained within British company law intended to deal with the problems posed by purely groups of companies....
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