McCallum-Toppin and McCallum-Toppin [2019] EWHC 46
A shareholder dispute case involving a petition under section 994 Companies Act 2006 regarding unfairly prejudicial conduct.
Those of us actively engaged in shareholder dispute cases will be aware that decisions in this area have been evolving: two relatively recent cases, Sunrise Radio ([2010] BCLC 367) and Blue Index ([2014] EWHC 2680), have ordered that no discounts should be applied despite the fact that the relations of the parties were not those of quasi-partnership. The over-arching consideration has been that of fairness: justice is not seen to be served if wrongdoers benefit from their actions by purchasing shares at discounted prices.
This is a trend which has been continued in this case: the judge gave his reasons:
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