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Hi Sir, I Understood the facts of this case but decision of court of Appeal is confusing me because of treating subsidiaries as separately legal entities rather then group one, Please do explain?
A company is a separate legal entity. Companies within a group are still separate legal entities. Consolidated accounts are prepared by the parent incorporating the financial position and the results of the parent and all its subsidiaries but …… all the subsidiaries are STILL separate legal entities
And the Court of Appeal agree!
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