Re Clubman Shirts [1988] IEHC 27 (8 June 1988)

Re Clubman Shirts [1988] IEHC 27 (8 June 1988)

The court held that, due to the reservations and qualifications in Mr. O'Neill's report and the existence of further relevant information not previously considered, it was proper to refer the report back to Mr. O'Neill for further consideration, except as to the value of the factory premises, which must stand at IR£300,000 as previously determined.

Citation
[1988] IEHC 27
Parties
Petitioner: Neal Duggan; Respondent: Peter Mooney; Respondent: Leonard Hayes
Jurisdiction
Ireland
Judgment Date
08 June 1988
Procedural Posture
Company Law Petition / Post Judgment, Further Consideration of Share Valuation
Outcome
Report of Mr. O'Neill referred back for further consideration, with directions; value of factory premises not to be reopened.
Legal Topics
Share Valuation, Minority Shareholder Rights, Court Appointed Expert, Reopening of Expert Report
Company Law Share Valuation Minority Shareholder Rights Court Appointed Expert Reopening of Expert Report

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 4 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

Neal Duggan

Petitioner

Peter Mooney

Respondent

Leonard Hayes

Respondent

Procedural Posture

Company Law Petition / Post Judgment, Further Consideration of Share Valuation

Legal Issues

  1. 1 Whether the court can reopen or reconsider a court-appointed expert's share valuation report
  2. 2 Whether further evidence should be admitted regarding the basis of the share valuation
  3. 3 Whether the value of the factory premises can be challenged at this stage

Ratio Decidendi

The court held that, due to the reservations and qualifications in Mr. O'Neill's report and the existence of further relevant information not previously considered, it was proper to refer the report back to Mr. O'Neill for further consideration, except as to the value of the factory premises, which must stand at IR£300,000 as previously determined.

Court Disposition

Report of Mr. O'Neill referred back for further consideration, with directions; value of factory premises not to be reopened.

Orders

  • Mr. O'Neill's report to be reconsidered in light of any further material provided by the parties, particularly regarding stock-in-trade and creditors and accruals as of 31 July 1980.
  • The value of the factory premises is to remain at IR£300,000 and is not to be reopened.