21 Nov 1995
SCIC LTD AND ANOTHER v. TOMEI INTERNATIONAL (HOLDINGS) LTD AND OTHERS
- Citation
- SCIC LTD AND ANOTHER v. TOMEI INTERNATIONAL (HOLDINGS) LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA11427/1995
The application was dismissed because the plaintiffs failed to establish an arguable case that the rights issue was undertaken for an improper purpose; the judge declined to draw the necessary inferences from the pleaded facts, found no evidence of irreparable harm or that the balance of convenience favoured intervention, observed that excess rights were minimal and that shares could be acquired on the market, and therefore refused to restrain the defendants' voting rights.