Source: All England Reporter
Publisher Citation: [2002] All ER (D) 348 (Mar)
Neutral Citation: [2002] UKPC 16
Court: Privy Council
Judge:

Lord Bingham of Cornhill, Lord Hutton, Lord Hobhouse of Woodborough, Lord Millett and Lord Rodger of Earlsferry

Judgment Dates: 21 March 2002

Catchwords

Company - Winding up - Petition - Just and equitable ground - Judge granting injunction restraining presentation of petition to wind up company - Court of Appeal discharging injunction - Whether offer to purchase minority shareholder's shares reasonable.

The Case

The Privy Council affirmed the decision of the Court of Appeal of the Cayman Islands holding that the appellants' offer to purchase the respondent's interest based on the company's break up or liquidation value fell far short of a fair offer. They were not entitled on that ground to restrain the presentation of a winding up petition.

Practice Areas

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