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English Court of Appeal upholds unlawful dividend ruling in Sequana case

By Benjamin Clarke

07 February 2019

English Court of Appeal upholds unlawful dividend ruling in Sequana case iStock.com/hxdyl

An English appeals court has barred a €135 million dividend payment made to French paper company Sequana by its UK subsidiary under section 423 of the Insolvency Act, upholding a prior decision of the High Court in London.