2 Jan 2002
RE SARATOR PROPERTIES AND INVESTMENTS LTD.
- Citation
- RE SARATOR PROPERTIES AND INVESTMENTS LTD.
- Court
- Court of First Instance
- Case number
- HCCW64/2000
The court found the shares registered in the mothers name were beneficially hers, but that the Companys substantial interest-free unsecured advances to the mother from 30 April 1988 were unjustified, were ratified at meetings to which the petitioner had not been given notice (invalidating ratification), and constituted unfairly prejudicial conduct; accordingly the appropriate remedy was an order under s.168A for the opposing contributories to purchase the petitioners shares with valuation directions rather than a winding-up order.