LandmarkChancery Division[1976] 2 All ER 2681 Jan 1976· Company Law
This case established that a majority shareholder cannot exercise her voting rights to pass a share issue whose effect is to dilute a minority shareholder and destroy her negative control, even when acting within her strict legal rights. The court set the resolutions aside, holding that the right to vote is subject to equitable considerations which may make it unjust to exercise it in a particular way.