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High Court grants leave to a shareholder to initiate a derivative action on behalf of a company against a fellow shareholder and the company's landlord, for the alleged wrongful appropriation of the company's business and assets, as well as for the unlawful termination of the company's premises license. The court found reasonable prospects of success for claims that the fellow shareholder, in breach of fiduciary duty, orchestrated the transfer of the company's business to a new entity he controlled, and that the landlord had colluded in this process by unlawfully terminating the company's license and immediately granting a new one to the new entity. The action is limited to these specific claims, and the court will oversee the preparation of a draft Plenary Summons and Statement of Claim focused on these issues.
derivative action, shareholder, company, damages, breach of fiduciary duty, business appropriation, unlawful termination, premises license, collusion, landlord, reasonable prospects of success, Plenary Summons, Statement of Claim.
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