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High Court grants an order directing the rectification of the register of members of the management company of an industrial estate, where the applicant had purchased the leasehold interest in several units from the mortgagee of the original owners, on the grounds that: (a) as the leases were for terms of 10,000 years, the applicant was entitled to be considered owner 'for the time being' of the units in question, with a right under the Articles of Association of the Company to be registered as member in place of the original owners; and (b) if the original owners were to succeed in other proceedings in setting aside the assignment of the leases to the applicant, the applicant's membership of the company would automatically cease.
Company law - ss. 169 and/or 173 of the Companies Act, 2014 - application to rectify register of members of company - application to name applicant as member of company and to remove names of other parties - owner of common areas in industrial estate - purchase of units in estate from mortgagee by applicant - failure of management company to agree to registration of applicant as a member - collection of rents by original owners - Articles of Association of company - construction of Clause 3 of Articles.
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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