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Protection of stakeholders
Nicholas Briggs (LL.M Bristol) Barrister, Guildhall Chambers, Bristol.
The High Court Chancery Division has found that reg 6 of the Companies (Cross-Border Mergers) Regulations 2007 (the “Regulations”) does not give or seek to give the court a discretion to exercise when deciding whether to grant a pre-merger certificate. It found that the discretion is only to be exercised at the second hearing. This brief article argues that as the court did not have two counsel arguing the issue, it was not presented with extensive argument on an important jurisdictional issue. It is argued that the court has discretion to exercise at both the pre-merger certification hearing and the final hearing.
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