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Part V Directors’ Particular Functions and Duties, 28 Reorganizations and Takeovers

Tom Smith KC, Paul Fradley

From: Company Directors: Duties, Liabilities, and Remedies (4th Edition)

Edited By: Mark Arnold KC, Simon Mortimore KC

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Subject(s):
Mergers — Conduct of business regulation

This chapter highlights the role, duty, and liability of directors in the procedures of reorganizations and takeovers. It details the provisions of the Companies Act 2006 that involves arrangements and reconstructions, mergers and divisions of public companies, and takeovers. Directors will be concerned with proposals for schemes to effect compromises or arrangements between a company and its members in correlation to either reorganization or takeover. If the company is or is likely to be unable to pay its debts, the company may file for a voluntary arrangement under the Insolvency Act. The chapter also considers the scope of arrangements and reconstructions under the Act's Part 26 and 26A.

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