Coyne v Walsh & Ors

Coyne v Walsh & Ors

Permission is granted for Mrs Coyne to continue the derivative claim against Mr Walsh and Ms Wetton, as this is the most appropriate and efficient means to resolve the alleged misappropriation of company assets, and Mrs Coyne is acting in good faith. An indemnity for costs is granted up to the first costs and case management hearing.

Parties
Claimant: Mrs Anne Marie Coyne; First Defendant: Mr Michael Francis Walsh; Second Defendant: MFW Developments Limited; Third Defendant: Ms Naomi Wetton
Jurisdiction
England and Wales
Judgment Date
05 December 2019
Procedural Posture
Derivative Claim / Permission to Continue Derivative Claim
Outcome
Permission granted to continue derivative claim; costs indemnity granted up to first costs and case management hearing.
Legal Topics
Derivative Claims, Director's Duties, Fiduciary Duties, Costs Indemnity, Unfair Prejudice, Misappropriation of Assets
Company Law Derivative Claims Director's Duties Fiduciary Duties Costs Indemnity Unfair Prejudice Misappropriation of Assets

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Parties

Mrs Anne Marie Coyne

Claimant

Mr Michael Francis Walsh

First Defendant

MFW Developments Limited

Second Defendant

Ms Naomi Wetton

Third Defendant

Procedural Posture

Derivative Claim / Permission to Continue Derivative Claim

Legal Issues

  1. 1 Whether permission should be granted to continue a derivative claim against Mr Walsh and Ms Wetton
  2. 2 Whether a Section 994 unfair prejudice petition is a more appropriate remedy
  3. 3 Whether the applicant is acting in good faith

Ratio Decidendi

Permission is granted for Mrs Coyne to continue the derivative claim against Mr Walsh and Ms Wetton, as this is the most appropriate and efficient means to resolve the alleged misappropriation of company assets, and Mrs Coyne is acting in good faith. An indemnity for costs is granted up to the first costs and case management hearing.

Court Disposition

Permission granted to continue derivative claim; costs indemnity granted up to first costs and case management hearing.

Orders

  • Permission for Mrs Coyne to continue derivative claim against Mr Walsh and Ms Wetton
  • Indemnity for costs up to first costs and case management hearing