Introduction In last week’s blog we looked at who could complain to the court. This week we examine the meaning of “unfair prejudice”. S.994 petition Perhaps the greatest protection that your client has as a minority shareholder, is a right to petition the court for an order under section 994 Companies Act 2006 which provides […]
Shareholder and Director Disputes – Blog 4 Read More »
Part 3 – Who can complain to the Court? The ability to petition the Court under s.994 Companies Act 2006 to complain about unfair prejudice in relation to the management of “the company’s affairs” is generally confined to a person who is a “member” of the company. In substance this means a person who is
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Following last week’s introductory blog on shareholder disputes, we move on to consider Shareholder Agreements and how to try and avoid such conflicts. Part 2: “Prevention is better than cure” Shareholder Agreements and avoiding conflict. If your clients are wise enough to consult you before they go into business together recommending a written shareholders’ agreement
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Welcome to Summit Law’s first Shareholder and Director Disputes, Blog. Part 1: A corporate divorce? It is said that January is a busy month for divorce lawyers, but it is also frequently a time when shareholders, decide that they need to make a break with each other and start afresh. Clients naturally turn in the
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Do you have a potential insurance claim against a bankrupt or company in liquidation? Perhaps you had a claim against an individual or company and it has since been declared insolvent. Or you could be an insurer and your insured has been declared insolvent. If so the following article may be of interest. Third Parties
Third Parties (Rights against Insurers) Act 2010 Read More »
Whilst the decision in the case of Meah-v-G E Money Home Finance Ltd [2013] EW CH 20 (Ch.) was unsuccessful and related to a mortgagee in possession, there are nevertheless lessons to be learnt. The case serves as a reminder to take care to adopt best practice when selling. Mortgage lenders in particular are always
Trustees be aware – Do not sell that repossessed property at an under value! Read More »
Is there a month that goes by when banks do not suffer from some form of adverse publicity? Claims by disgruntled employee bankers; Litigation against directors of loss-making banks; The LIBOR-fixing scandal; And as we have reported previously, interest rate swap (IRS) claims. These are just a few of the financial services disputes that appear
Banks – You have to love them – or do you? Read More »
Construction lawyers are extremely familiar with contractual penalty clauses. Recently however contractual law and the issue of penalties in particular has again come under the judicial microscope in two reported cases:- Iman-Sadeque-v-Bluebay Asset Management (Services) Limited [2012] EWHC 3511 (QB) and Cavendish Square Holdings BV and another-v-El Makdessi [2012] EWHC 3582 (Comm) It is important
Red Card for a Penalty? Read More »
Summary This is an interesting decision heard on 17th June 2013 which caught our attention involving the purchase of shares and their valuation. In summary, at first instance the Judge carried out a determination of the valuation of the company for the purpose of allowing the respondents to purchase the petitioner’s minority shares with a finding that the petitioner
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Directors Disqualified. Daniel Alexander Witton and his father Roland Witton, both directors of stockbrokerage company Direct Sharedeal Limited (DSL), which traded in Glasgow and London, have been disqualified as directors by the Edinburgh Court of Session for a total of 10 years after clients apparently lost nearly £12m. The disqualifications, which run from 28 May
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