Cool Seas (Seafoods) Ltd v Interfish Ltd and another

Company – Member. The claimant company's petition, alleging unfair prejudice under s 994 of the Companies Act 2006, failed in its entirety. The Chancery Division held, among other things, that, contrary to the claimant's contention, the company at the heart of the dispute (Northbay) was never a quasi-partnership, and that the claimant had never had any legitimate expectation that equitable considerations, inconsistent with the terms of Northbay's articles of association, would operate to prevent the exclusion of the claimant's chosen directors from the management of the company once they had ceased to be employees of Northbay. The majority shareholders' cross-petition against the claimant under s 994 succeeded in part.

Category: