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Company – Member. The Chancery Division dismissed a petition brought by a minority shareholder and employee of a company, under s 994 of the Companies Act 2006, alleging that he had been the victim of unfair conduct by the majority shareholders in the company after he had been dismissed and the compulsory transfer of his shares mechanism in the company's articles of association had been invoked. The relationship between the parties could not be described as a quasi-partnership. The present cases concerned an arm's length deal on agreed documentation; it was not a venture founded on the sort of considerations which were likely to give rise to the possibility of overriding equitable considerations under s 994 of the Act.
Company – Member. The Chancery Division dismissed a petition brought by a minority shareholder and employee of a company, under s 994 of the Companies Act 2006, alleging that he had been the victim of unfair conduct by the majority shareholders in the company after he had been dismissed and the compulsory transfer of his shares mechanism in the company's articles of association had been invoked. The relationship between the parties could not be described as a quasi-partnership. The present cases concerned an arm's length deal on agreed documentation; it was not a venture founded on the sort of considerations which were likely to give rise to the possibility of overriding equitable considerations under s 994 of the Act.
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