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    As is well known, the Court of Appeal in held that the shareholder must be assumed to know the law, so that it is sufficient for the purposes of recovery under section 847 if he is aware that the company has no distributable profits, even if he is not aware that a distribution in such circumstances contravenes the Act.It is perhaps less well known that Arden LJ and Chadwick LJ also took the opportunity to consider the meaning of "has reasonable grounds for believing", and offered (obiter) two different interpretations.ALL PERSONS ARE DENIED ACCESS TO THIS SITE UNLESS THEY READ AND ACCEPT THE TERMS OF USE AND THE PRIVACY POLICY.

    DENIES ACCESS TO ANY INDIVIDUAL THAT IS COVERED BY THE CHILD ONLINE PRIVACY ACT (COPA) OF 1998.The court's unanimous conclusion was that the shareholders were, indeed, obliged to repay the dividends.Since the shareholders in this case had actual knowledge that the company had no profits, the meaning of the phrase "has reasonable grounds for believing" did not have to be decided.he would arrange protection for them and their families, if necessary, and also supervise their transportation to and from the school for their safety.” But Walker privately was against using federal troops as a means to enforce integration. All of them claimed that Communists were embedded in the White House.Following orders, he nevertheless was radicalized into believing the Civil Rights Movement was a wing of the internal Communist conspiracy by listening to the segregationist radio preacher Billy James Hargis and the Grassy Knoll’s crowd favorite funder of the JFK Assassination, oil millionaire H. Meeting Robert Welch, the John Birch Society leader completed Walker’s “education.” When Welch informed Walker that Eisenhower was a Soviet agent everything clicked into place for Walker; by following Eisenhower’s orders Walker now believed he had served the Communists.

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