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Re McCarthy Surfacing Ltd: ChD 2009

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:

CitedKohli 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

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