||All England Reporter
|| All ER (D) 182 (Oct)
|| EWHC 2858 (Ch)
Mr Justice Roth
||Daniel Lightman (instructed by DWF LLP) for B.
||David Casement QC (instructed by Nexus Solicitors Ltd) for H.
||18 October 2012
Company - Director - Derivative proceedings - Parties, H and B, directors of and equal shareholders in company - Company involved in land development - Company loaning money to H - H failing to repay loan, thus jeopardising land transaction - Dispute arising between parties - Whether B able to apply for permission to bring derivative proceedings - .
Company Director. The Chancery Division of the High Court considered an application by the claimant for permission to bring derivative proceedings in the name of a company, under of the Companies Act 2006. Proceedings were to be brought effectively on behalf of a director and 50% shareholder in the company against the other director and 50% shareholder, regarding his failure to repay a loan made to him by the company. The court ruled that the circumstances justifying the grant of permission had not been satisfied, and hence the application would be refused.
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