1 Nov 2012
AMERITAX PLUS LTD v. DENICE Y FOSTER HARRIS
- Citation
- AMERITAX PLUS LTD v. DENICE Y FOSTER HARRIS
- Court
- District Court
- Case number
- DCMP1298/2012
The District Court has jurisdiction under section 52AB(3) of the District Court Ordinance to order the sale of shares subject to a charging order; despite contractual transfer restrictions in the articles of association and the risk that directors may refuse to register transfers, the court may exercise its equitable jurisdiction to order a sale with appropriate directions. Accordingly the master’s dismissal was set aside and an order for sale of the 9,999 shares was granted with specified procedural safeguards including opportunity for existing shareholders to purchase, plaintiff conduct of…