Re Coroin
The parties battled for the control of major London hotels. The claimant alleged unfair dealings in attempts to secure that control.
Held: David Richards J said that prejudice: ‘will certainly encompass damage to the financial position of a member. The prejudice may be damage to the value of his shares but may also extend to other financial damage which in the circumstances of the case is bound up with his position as a member. So, for example, removal from participation in the management of a company and the resulting loss of income or profits from the company in the form of remuneration will constitute prejudice in those cases where the members have rights recognised in equity if not at law, to participate in that way. Similarly, damage to the financial position of a member in relation to a debt due to him from the company can in the appropriate circumstances amount to prejudice. The prejudice must be to the petitioner in his capacity as a member but this is not to be strictly confined to damage to the value of his shareholding. Moreover, prejudice need not be financial in character. A disregard of the rights of a member as such, without any financial consequences, may amount to prejudice falling within the section.’
David Richards J
[2012] EWHC 2343 (Ch)
Bailii
Companies Act 2006
England and Wales
Citing:
See Also – Mckillen v Misland (Cyprus) Investments Ltd and Others ChD 2-Feb-2012
Preliminary judgment as to interpretation of shareholder agreement . .
See Also – McKillen v Misland (Cyprus) Investments Ltd and Others ChD 21-Dec-2011
‘prejudice need not be financial in character. A disregard of the rights of a member as such, without any financial consequences, may amount to prejudice falling within the section.’ . .
See Also – Mckillen v Misland (Cyprus) Investments Ltd and Another CA 24-Feb-2012
Coroin Limited . .
See Also – Mckillen v Misland (Cyprus) Investments Ltd and Others ChD 28-Feb-2012
. .
See Also – Mckillen v Misland (Cyprus) Investments Ltd and Others ChD 5-Mar-2012
Applications by the petitioner and claimant, Patrick McKillen, to make very extensive amendments to his Petition and Particulars of Claim in an associated Part 7 claim, and with an application by one of the respondents to the petition for further . .
See Also – Mckillen v Misland (Cyprus) Investments Ltd and Others ChD 26-Apr-2012
Application by the petitioner and claimant for the continuation during the trial of a confidentiality regime imposed for the purposes of pre-trial steps, particularly disclosure. . .
Cited by:
See Also – McKillen v Misland (Cyprus) Investments Ltd and Others CA 3-Jul-2013
. .
See Also – Misland (Cyprus) Investments Ltd and Another v Mckillen and Another ChD 25-Nov-2014
. .
Cited – Macom Gmbh v Bozeat and Others ChD 21-Jun-2021
Order regulating company’s affairs
COMPANY – Unfair prejudice – Petitioner 60% shareholder – Respondents 40% shareholders – Alleged breaches of director’s duties and failures to observe Shareholders’ Agreement – Undermining company’s corporate governance – Appropriate remedy – . .
These lists may be incomplete.
Updated: 10 July 2021; Ref: scu.463543