Re Halt Garage (1964) Ltd [1982] 3 All ER 1016 is a UK company law case concerning reduction of capital and executive pay.

It held that money can be ordered to be returned if a sum paid to a director is in substance a reduction of capital, because the amounts cannot seriously be regarded as remuneration.

The proper procedure for reduction of capital is now found in Companies Act 2006, sections 641-653.

Oliver J said that creditors are entitled to assume that what is paid as remuneration is so in substance, and not a disguised distribution to shareholders.

I find it really impossible on the facts to hold that the whole of these sums… can be treated as genuine director’s remuneration in any real sense of the term...