Andrew Marsden on Shareholder Disputes
Barrister Andrew Marsden has created a very interesting and useful series of videos on Shareholder Disputes
“Part 30 of the Companies Act 2006 enables a shareholder in a company who is being treated in an 'unfairly prejudicial’ way to seek relief from the court. Typically, these cases involve companies with relatively small numbers of shareholders. Those shareholders are usually also directors and may be the only directors of the company. The shareholders / directors will generally have fallen out with each other. The unfairly prejudicial conduct often takes the form of an exclusion of one shareholder / director by another from the affairs of the company. On other occasions, it arises because of the misappropriation by one shareholder / director of property or funds belonging to the company or of a business opportunity that might have been enjoyed by the company. In other cases it might take the form of wrongful dealings with shares, improper dividends, salary or other payments or other improper conduct of the company’s affairs. This legislation gives the court very wide powers to control the conduct of the affairs of the company and its shareholders / directors. Such proceedings regularly result in the court ordering that one shareholder / director should purchase the shares of another at a value determined by the court to be fair in the circumstances.”
Shareholder Protection From Unfair Prejudice: (1) Jurisdiction; and (2)Practice and procedure
Shareholder Protection From Unfair Prejudice: (3) The elements of “unfairness” and “prejudice”
Shareholder Protection From Unfair Prejudice: (4) Examples commonly encountered in practice
Shareholder Protection From Unfair Prejudice: (5) Remedies; and (6) Offers to purchase/striking out
