Action for specific performance of share agreement dismisses for delay

High Court grants order to dismiss for delay an action seeking to enforce an agreement to transfer shares in a company, on the grounds that: (a) there had been a delay of more than six years between the delivery of a defence and a notice of intention to proceed; (b) in such a case it would be an injustice that the defendant should be compelled to meet the litigation; and (c) in this case, the defendant had established specific prejudice by reason of the fact that key issues would rely on oral evidence and the memories of the parties involved.