Originally broadcast on Wednesday, November 9, 2011 - 15:30

Under common law, any distribution of a company's assets to a shareholder, except in accordance with specific statutory procedures is unlawful. The case of Aveling Barford applied this common law rule to a case in which a company had sold an important asset to another company (both controlled by the same person) at gross undervalue and the court held that the sale amounted to an unauthorised return of capital. This webinar will consider the impact of this decision in light of the recent case of Progress Property v Moorgarth.

This webinar will cover:

• Types of unlawful distributions
• Regularising unlawful distributions
• Distributions in kind and Aveling Barford
• Progress Property v Moorgarth - the common law rule against unlawful distributions