Cases

In Gray's Timber Products Ltd v HMRC Lord Walker noted with surprise that neither side had referred in argument to Russell v Northern Bank Development Corporation Ltd where the HL had held that a provision in a shareholders' agreement excluding or restricting the company's statutory power to amend its articles was a nullity. This case had been discussed in Nigel Doran's article in Tax Journal about the Commissioner's decision. Counsel who intend taking a case to the courts should include Tax Journal articles in their research!