Company

The Chancery Division ruled on an unfair prejudice petition presented by the petitioner shareholder of a company, under s 994 of the Companies Act 2006, in respect of a company that had been operated as a quasi-partnership. The court held that the it had been unfair for the petitioner’s remaining means of involvement and influence, if not control, over the conduct of the business to have been terminated by his removal as a director of the company and the refusal of provision of any financial or management information. Accordingly, it held that the association should be dissolved and that the respondents should purchase P’s shares for £309,000.