Permanent TSB Plc & Ors -v- Skoczylas & Ors [2013] IEHC 42 (04 February 2013)

Permanent TSB Plc & Ors -v- Skoczylas & Ors [2013] IEHC 42 (04 February 2013)

The plaintiffs established a prima facie case that the statutory precondition of valid ten-day notice under s.160(7) was not fulfilled, justifying interlocutory restraint of any s.160 applications pending trial, as the balance of convenience favours the plaintiffs and damages would not be an adequate remedy.

Source-derived case information.

Citation
[2013] IEHC 42
Parties
Plaintiff: Permanent TSB Plc; Plaintiff: Alan Cook; Plaintiff: Jeremy Masding; Plaintiff: Kevin Murphy; Plaintiff: David McCarthy; Plaintiff: Bernard Collins; Plaintiff: Ray MacSharry; Plaintiff: Margaret Hayes; Plaintiff: Emer Daly; Plaintiff: Sandy Kidney; Plaintiff: Pat Ryan; Defendant: Piotr Skoczylas; Defendant: Scotchstone Capital Fund Limited; Defendant: Gerard Dowling; Defendant: Padraig McManus; Defendant: Georg Haug; Defendant: John Paul McGann; Defendant: Tibor Neugebauer; Defendant: Muriel Scorer
Jurisdiction
Ireland
Judgment Date
04 February 2013
Procedural Posture
Interlocutory Injunction / Motion for Interlocutory Relief
Outcome
interlocutory injunction granted
Legal Topics
Director Disqualification, Statutory Notice Requirements, Abuse of Process, Minority Shareholder Oppression, Balance of Convenience
Company Law Corporate Governance Injunctions Director Disqualification Statutory Notice Requirements Abuse of Process Minority Shareholder Oppression Balance of Convenience

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Parties

Permanent TSB Plc

Plaintiff

Alan Cook

Plaintiff

Jeremy Masding

Plaintiff

Kevin Murphy

Plaintiff

David McCarthy

Plaintiff

Bernard Collins

Plaintiff

Ray MacSharry

Plaintiff

Margaret Hayes

Plaintiff

Emer Daly

Plaintiff

Sandy Kidney

Plaintiff

Pat Ryan

Plaintiff

Piotr Skoczylas

Defendant

Scotchstone Capital Fund Limited

Defendant

Gerard Dowling

Defendant

Padraig McManus

Defendant

Georg Haug

Defendant

John Paul McGann

Defendant

Tibor Neugebauer

Defendant

Muriel Scorer

Defendant

Procedural Posture

Interlocutory Injunction / Motion for Interlocutory Relief

Legal Issues

  1. 1 Whether the defendants gave valid statutory notice under s.160(7) of the Companies Act 1990 before seeking director disqualification.
  2. 2 Whether the intended applications under s.160 would constitute an abuse of process.
  3. 3 Whether the plaintiffs are entitled to an interlocutory injunction restraining the defendants from initiating s.160 proceedings.

Ratio Decidendi

The plaintiffs established a prima facie case that the statutory precondition of valid ten-day notice under s.160(7) was not fulfilled, justifying interlocutory restraint of any s.160 applications pending trial, as the balance of convenience favours the plaintiffs and damages would not be an adequate remedy.

Court Disposition

interlocutory injunction granted

Orders

  • Defendants restrained until trial from issuing proceedings or presenting any application under s.160 of the Companies Act 1990 against any or all of the plaintiffs.