A minority shareholder had brought a petition to wind up the company, saying the project for which it had been created was complete. An offer was made to purchase his shares. He rejected the offer to purchase his shareholding at an accountant’s valuation. He appealed a striking out of his petition on the grounds that his rejection was unreasonable.
Held: Appeal allowed. The accountant’s offer would include some discount for the fact that the shares were in a minority shareholding, and he would achieve a better figure by the machinery available in a winding up.
Citations:
[1990] BCLC 342 CA, [1990] BCC 60
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – CVC/Opportunity Equity Partners Limited and Opportunity Invest II Limited v Luis Roberto Demarco Almeida PC 21-Mar-2002
(Cayman Islands) The respondent was a minority shareholder. An offer was made to buy out his interest. He petitioned for the winding up of the company on the just and equitable ground. The claimants obtained an injunction to prevent him doing so, . .
Lists of cited by and citing cases may be incomplete.
Company, Insolvency
Updated: 13 May 2022; Ref: scu.192621
