Deregistered companies and registered business names cannot be joined as parties to proceedings as they lack legal personality. Leave to bring derivative proceedings on behalf of companies in liquidation requires a solid foundation showing reasonable prospects of success and tangible benefit, and practical considerations including the availability of indemnity or security. A pleading that fails to comply with procedural rules may be struck out, but leave to replead should be granted where the underlying causes of action are not clearly untenable.
The full text is available to signed-in members, including the 7 later cases that cite this judgment.
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