Shareholder cannot sue for a company's losses/ damages

In this case, the company was owned 99% by Mr Webster.? He was the beneficiary of the pension fund.? The company and the pension fund both invested large sums into a project.? These were lost, and in addition Mr Webster suffered personal losses, as a result of the alleged negligence of solicitors.?
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The dispute included questions about what were the proper claims of Mr Webster.?
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Mr Webster could not make claims for the losses of the company or the pension fund.? Unless prevented by wrongdoing, only the company and the trustees could pursue these.?
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Worse still, Mr Webster could not make claims for personal losses if they were "merely reflective" of the company's own loss or too remote.? Losses of these kinds - ie ones that Mr Webster could not call his own/ claim - included loss of expected dividends, salary and other payments expected from the company.? Nor could he claim for payments he had to make under a guarantee because of the company's financial failure.
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Case: C F Webster v Sandersons solicitors.? Also: Foss v Harbottle; Prudential Assurance v Newman Industries; Johnson v Gore Wood.
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Although sometimes thought of as the same person, the company and its shareholders are not one and the same.? This distinction lies at the heart of company law and all legal work concerning companies and their various stakeholders.?
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Here Mr Webster lost control of the company when the liquidator stepped in.? The liquidator elected not to continue with the company's proceedings, presumably thinking action for these losses was not economic.? It would have been open to Mr Webster to do so once the liquidator had finished his work.? Assuming it is worthwhile, for example depending who else would become entitled to the fruits of a successful claim, an interested party can usually apply to the Registrar of Companies to have a company restored to the register (ie resurrected) so that the company may start or resume legal proceedings.

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