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Re Exchange Banking Co
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Re Exchange Banking Co : ウィキペディア英語版
Re Exchange Banking Co

''In re Exchange Banking Company'' or ''Flitcroft's case'' (1882) LR 21 Ch D 519 is a UK company law case concerning the payment of dividends. It was decided when the law was that dividends should only be paid out of a company's profits, although the courts deferred to company directors to define their own rules for determining when that was so.
==Facts==
The directors of the Exchange Banking Company had presented account reports before shareholder meetings, which were untrue. Between 1873 and 1878 they paid half yearly dividends totalling £3,192 when they knew items in the accounts were bad debts, irrecoverable and consequently there were no distributable profits. The shareholders acted on the reports and declared dividends. The liquidator issued a summons against five former directors.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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