Mactra Properties Ltd v Morshead Mansions Ltd & Ors

Mactra Properties Ltd v Morshead Mansions Ltd & Ors

The refusal to register share transfers was not made in bad faith but in accordance with established company policy to enforce payment of debts owed under Article 16; the directors acted bona fide in the interests of the company.

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
Civil / Trial Judgment
Outcome
Declaration sought by Mactra refused; no finding of bad faith.
Legal Topics
Share Transfer, Directors' Discretion, Bad Faith, Articles of Association
Company Law Share Transfer Directors' Discretion Bad Faith 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

Civil / 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 enforce payment of debts owed under Article 16; the directors acted bona fide in the interests of the company.

Court Disposition

Declaration sought by Mactra refused; no finding of bad faith.