Children’s Investment Fund Foundation (UK) v Attorney General and others [2017] EWHC 1379 (Ch)
‘The claimant was a substantial English registered charity and a company limited by guarantee without a share capital. It was founded by the second and third defendants, who were two of its trustees and, along with L, its only members. As a result of the breakdown in the relationship between the second and third defendants it was agreed that the third defendant would resign as a member and trustee of the claimant and that she would found another registered charity, also a company limited by guarantee without a share capital. If the payment of the grant was a “payment for loss of office to a director” of the claimant for the purposes section 215 of the Companies Act 2006, it would, by section 217, prima facie require to be sanctioned by a resolution of the claimant’s members before it could be paid.’
WLR Daily, 9th June 2017
Source: www.iclr.co.uk
