Bee Tee Alarms , Re [2006] EWHC 584 (Ch) (10 March 2006)

Bee Tee Alarms , Re [2006] EWHC 584 (Ch) (10 March 2006)

The petition was struck out because a reasonable offer to purchase the petitioner's shares had been made prior to the petition, and the unfairness required by section 459 (now section 994) of the Companies Act was not present where such an offer exists.

Citation
[2006] EWHC 584 (Ch)
Parties
Petitioner: Miss Angela Banner; 1st Respondent: Mr. Paul Collins
Jurisdiction
England and Wales
Judgment Date
10 March 2006
Procedural Posture
Unfair Prejudice Petition Under Companies Act / Application to Strike Out Petition
Outcome
Petition struck out
Legal Topics
Unfair Prejudice, Shareholder Disputes, Exclusion From Management, Buy Out Offers
Company Law Unfair Prejudice Shareholder Disputes Exclusion From Management Buy Out Offers

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Parties

Miss Angela Banner

Petitioner

Mr. Paul Collins

1st Respondent

Procedural Posture

Unfair Prejudice Petition Under Companies Act / Application to Strike Out Petition

Legal Issues

  1. 1 Whether the petition should be struck out due to a reasonable buy-out offer having been made
  2. 2 Whether exclusion from management without a reasonable offer constitutes unfair prejudice
  3. 3 Whether the proceedings should be stayed due to compromise

Ratio Decidendi

The petition was struck out because a reasonable offer to purchase the petitioner's shares had been made prior to the petition, and the unfairness required by section 459 (now section 994) of the Companies Act was not present where such an offer exists.

Court Disposition

Petition struck out

Orders

  • Petition struck out
  • No stay of proceedings granted