The court found that certain bonus payments, and the non-declaration of dividends, amounted to an unfair prejudice. The bonus payments had deprived shareholders of 81% of net profits estimated at andpound;1.4million. The directors had acted in breach of the duty to act fairly between shareholders, citing the decision of Goulding J in Mutual Life Insurance Co of New York.
Judges:
Michael Furness QC
Citations:
[2009] 1 BCLC 622
Jurisdiction:
England and Wales
Cited by:
Cited – Kohli v Lit and Others ChD 13-Nov-2009
The claimant asserted that the other shareholders had acted in a manner unfairly prejudicial to her within the company.
Held: The claimant was allowed to bring in without prejudice correspondence to contradict evidence by the defendant which . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 07 May 2022; Ref: scu.378392