The reformation game
Recent legislation on company formation aims to cut red tape while improving the accountability of directors to shareholders. Yet some fear the measures could pave the way for a surge in opportunistic US-style class actions, as Ioannis Alexopoulos reports
The Company Law Reform Bill modernises regulations for the formation of companies and simplifies the powers of shareholders to sue directors. Put before Parliament on 3 November after six months of consultation, it is the first Bill since the Companies Act 1985 and codifies existing law previously only found in case law.
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