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Court of Appeal dismisses appeal from High Court, and affirms refusal in proceedings for shareholder oppression to grant an injunction to restrain the company’s solicitors from acting for the directors, on the grounds that there existed in place a policy of insurance which indemnifies the company, and the proceedings were likely to affect the vital interests of the company.
Injunctive relief - appeal from High Court - oppression - Section 212 Companies Act 2014 - Section 205 Companies Act 1963 - Section 235 Companies Act 2014 - complaint about legal representation of director respondents - whether the court was entitled to consider hearsay evidence on affidavit - whether a policy of insurance sufficiently protected the interests of the shareholders of company - indemnity of directors in respect of costs in connection with court proceedings - criticism of High Court judge - no basis for criticism - appeal dismissed.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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