Legal Ethics for Prosecutors
Seven Kinds Of Legal Guidelines
In Murfin v Ford Campbell, an agreement had been entered into whereby company shares were exchanged for loan notes, which may solely be redeemed if sure profit thresholds had been achieved in the relevant accounting years. As the thresholds weren’t met, the loan notes were not redeemable, but on the date of the advisors’ breach of contract this could not be identified, solely the loan notes’ face value might be identified. The conclusion was that in this case valuation couldn’t be carried out until after the profit performance grew to become recognized.
During the earlier…
