Mactra Properties Ltd v Morshead Mansions Ltd & Ors [2008] EWHC 2843 (Ch) (06 November 2008)

Mactra Properties Ltd v Morshead Mansions Ltd & Ors [2008] EWHC 2843 (Ch) (06 November 2008)

The refusal to register share transfers was not made in bad faith but in accordance with established company policy to refuse registration when debts were outstanding; the directors acted bona fide in the interests of the company.

Citation
[2008] EWHC 2843 (Ch)
Parties
Claimant: Mactra Properties Limited; First Defendant: Morshead Mansions Limited; Second Defendant: Nina Quaddah; Third Defendant: Negia Hussein; Fourth Defendant: Hadda Elassaoui; Fifth Defendant: Rina Abdul Gauin Musa
Jurisdiction
England and Wales
Judgment Date
06 November 2008
Procedural Posture
Trial / Judgment
Outcome
Declaration of bad faith refused; claim dismissed.
Legal Topics
Share Transfer, Directors' Discretion, Bad Faith, Leasehold Management, Articles of Association
Company Law Landlord and Tenant Share Transfer Directors' Discretion Bad Faith Leasehold Management Articles of Association

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Parties

Mactra Properties Limited

Claimant

Morshead Mansions Limited

First Defendant

Nina Quaddah

Second Defendant

Negia Hussein

Third Defendant

Hadda Elassaoui

Fourth Defendant

Rina Abdul Gauin Musa

Fifth Defendant

Procedural Posture

Trial / Judgment

Legal Issues

  1. 1 Whether refusal to register share transfers by MML in September 2002 was made in bad faith

Ratio Decidendi

The refusal to register share transfers was not made in bad faith but in accordance with established company policy to refuse registration when debts were outstanding; the directors acted bona fide in the interests of the company.

Court Disposition

Declaration of bad faith refused; claim dismissed.