Judgment in favour of Eclairs v. JKX Oil & Gas plc (Scandinavian Oil-Gas Magazine)

Judgment in favour of Eclairs v. JKX Oil & Gas plc

Published Dec 7, 2015

The Supreme Court of the United Kingdom has ruled in favour of Eclairs Group Ltd. in allowing its appeal against the Board of JKX Oil & Gas plc's use of its Articles to suspend Eclairs' right to vote at general meetings and to restrict its rights of transfer.

The Judgement on 2nd December 2015 given by Lord Sumption ruled that under the proper purpose rule of the Companies Act 2006 concerning the abuse of power, 'a company director must not, subjectively, act for improper reason...Seeking to influence the outcome of shareholders' resolutions or the Company's general meetings is no part of these proper purposes.'

Tags: Eclairs Group Ltd., JKX Oil & Gas plc

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