Group Litigation Orders
Group Litigation Order
Ref No: 35
Name of Group Litigation Order: Franked Investment Income Group Litigation
Date of Order: 08/10/03
Judge: Hon. Mr Justice Park
Court: High Court of Justice, Chancery Division
Managing Court: High Court of Justice, Chancery Division
Lead Solicitors: Dorsey & Whitney, 21 Wilson Street, London EC2M 2TD
Defining Issues: The litigation concerns claims that the payment of advance corporation tax ("ACT") by company groups parented in the UK upon the distribution of dividend receipts sourced from companies within the group resident outside the UK and the inability to mitigate the incidence of ACT where profits were generated by the group outside the UK are contrary to the EC Treaty, the Parent Subsidiary Directive or the allocation of taxing provisions in double taxation conventions.