“…[1989] BCLC 626, 631: “Whether or not the transaction is a distribution to shareholders does not depend exclusively on what the parties choose to call it. The court looks at t…”
“…of this rule was demonstrated by the decision of Hoffmann J in Aveling Barford Ltd v Perion Ltd [1989] BCLC 626. In the present case, the claimants accepted that their pleaded claim for breach of common law rules added nothing to their claims that the dividends contraven…”