Court of Appeal Wellington
28 July 1986
Cooke P, McMullin and Somers JJ
28 July 1986
Cooke P, McMullin and Somers JJ
Company law — Disclosure to shareholders — Sale of asset — Directors had negotiated a sale of the company's main undertaking — Articles of association required approval of company in general meeting — Letters to shareholders conveyed the impression that the agreement was already binding — Whether a company could impose on itself a binding obligation to obtain its own approval in general meeting — Whether High Court's grant of an interim injunction, restraining general meeting from dealing with a resolution to approve the sale, should be upheld.
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