Martialone Ltd -v- Companies Acts [2009] IEHC 570 (23 December 2009)

Martialone Ltd -v- Companies Acts [2009] IEHC 570 (23 December 2009)

The court found that most of the petitioner's allegations, individually and cumulatively, do not amount to oppression or disregard of interests under section 205, and some are not actionable by a shareholder. The proceedings are struck out to the extent that they rely on these allegations.

Citation
[2009] IEHC 570
Parties
Petitioner: Mike Hennessy; Respondent: Patrick Griffin; Respondent: Patrick Keane; Respondent: Enterprise 2000 Fund Limited; Respondent: Campus Companies Custodial Limited; Respondent: Martialone Limited
Jurisdiction
Ireland
Judgment Date
23 December 2009
Procedural Posture
Company Law Petition / Application to Strike Out Proceedings
Outcome
Partial dismissal of petitioner's claim
Legal Topics
Oppression of Minority Shareholders, Section 205 Companies Act 1963, Section 213 Companies Act 1963, Abuse of Process, Remedies for Oppression
Company Law Oppression of Minority Shareholders Section 205 Companies Act 1963 Section 213 Companies Act 1963 Abuse of Process Remedies for Oppression

Case Brief

Summary, issues, holding and outcome

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Parties

Mike Hennessy

Petitioner

Patrick Griffin

Respondent

Patrick Keane

Respondent

Enterprise 2000 Fund Limited

Respondent

Campus Companies Custodial Limited

Respondent

Martialone Limited

Respondent

Procedural Posture

Company Law Petition / Application to Strike Out Proceedings

Legal Issues

  1. 1 Whether the petitioner's allegations amount to oppression or disregard of interests under section 205 of the Companies Act 1963
  2. 2 Whether the proceedings should be struck out as vexatious, having no prospect of success, or as an abuse of process
  3. 3 Whether the remedies sought are appropriate under section 205

Ratio Decidendi

The court found that most of the petitioner's allegations, individually and cumulatively, do not amount to oppression or disregard of interests under section 205, and some are not actionable by a shareholder. The proceedings are struck out to the extent that they rely on these allegations.

Court Disposition

Partial dismissal of petitioner's claim

Orders

  • Allegations in the last sentence of sub-paragraph (a) and in sub-paragraphs (b), (c), (e), (g), (h), and (i) of para. 13 are dismissed as not amounting to oppression or disregard under section 205.