Begum v Hossain and another company

Practice – Compromise of action. Following settlement of an action, the appellant's shares in a company were to be purchased by the first respondent at a price to be determined by an independent valuer. The appellant unsuccessfully challenged the valuation as not being in accordance with the valuer's mandate as set out in the Tomlin Order. The Court of Appeal, Civil Division, allowed the appeal as, on the true construction of the express terms of the settlement, the valuer had been instructed to arrive at his valuation with regard to the books and records, including the handwritten takings, of the company. He had failed to take into account the handwritten takings and so had not followed his mandate.

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