The Companies Act comes into force later this year, but a test case is already pending – in an Alaskan state court
ABN Amro may currently be at the centre of some serious legal wrangling, but it has recently emerged victorious out of at least one legal proceeding: a derivative action brought against it in a New York district court was dismissed in March, just before the takeover battle erupted. A pre-unification Royal Dutch Shell settled one such action in the New Jersey district court two years ago; the facts on which the action was brought were the same as those that led to the record-breaking settlement with European and other non-US investors last month over the company’s allegedly improper reporting of its proven oil and gas reserves.
