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Company – Register. The issue in the proceedings was whether the claimant company in the first action (ITL) was the owner of the entire issued share capital in a company (the company), in respect of which the first defendant in the first action claimed to be the sole shareholder. The Chancery Division held that, where a valid transfer of the shares had been effected in the full knowledge of the first defendant, ITL was entitled to rectification of the company's register of members to remove the first defendant's name as the current shareholder and restore ITL's name.
Company – Register. The issue in the proceedings was whether the claimant company in the first action (ITL) was the owner of the entire issued share capital in a company (the company), in respect of which the first defendant in the first action claimed to be the sole shareholder. The Chancery Division held that, where a valid transfer of the shares had been effected in the full knowledge of the first defendant, ITL was entitled to rectification of the company's register of members to remove the first defendant's name as the current shareholder and restore ITL's name.
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