Opinion
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29:05:26
High Court confirms claim for unpaid subscriber shares may be time-barred after six years
The High Court has held that a company’s claim for payment for shares subscribed for on incorporation was time barred where proceedings were issued more than six years after the payment obligation first arose. The decision underlines the importance of identifying when a shareholder’s liability to pay crystallises and acting promptly to enforce it, otherwise the company could lose the opportunity to enforce the obligation to pay.
