Where an order provides for the purchase of the shares of a delinquent majority shareholder in a company in an oppression suit, the shares were to be valued on an inquiry as at the date of the petition.
Pennycuick J said: ‘Section 210 gives the court an unlimited judicial discretion to make such order as it thinks fit with a view to bringing to an end the matters complained of, including an order for buying out one faction by the other. It is not disputed on behalf of the respondents that in prescribing the basis on which the price of such a sale is to be calculated the court can in effect provide compensation for whatever injury has been inflicted by the oppressors.’
Pennycuick J
[1970] 1 WLR 1194, [1970] 3 All ER 57
Companies Act 1948 201
England and Wales
Cited by:
Cited – In re Bird Precision Bellows Ltd ChD 1984
The court considered the method of valuation of a minority shareholding in a forced purchase by the other shareholders. Nourse J said: ‘I would expect that in a majority of cases where purchase orders are made under section 75 in relation to . .
Appeal from – In re Jermyn Street Turkish Baths Ltd CA 1971
The finding of oppression was overturned. . .
Lists of cited by and citing cases may be incomplete.
Company
Leading Case
Updated: 10 November 2021; Ref: scu.192622