In the matter of Baltic Partners Limited [1996] JCA 075 (18 April 1996)

The court held that shareholders can seek relief for loss suffered by the company due to mismanagement and that winding up may be ordered if it is just and equitable.

Citation: [1996] JCA 075
Parties: Applicant: Baltic Partners Limited
Jurisdiction: Jersey
Judgment Date: 18 April 1996
Procedural Posture: Corporate Insolvency / Appeal
Outcome: appeal allowed
Legal Topics: Winding Up, Remedies for Shareholders

Corporate Law Insolvency Winding Up Remedies for Shareholders

Case Brief

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Parties

Baltic Partners Limited

Applicant

Procedural Posture

Corporate Insolvency / Appeal

Legal Issues

1 Whether shareholders can seek relief for loss caused by mismanagement
2 Whether the company can be wound up on just and equitable grounds

Ratio Decidendi

The court held that shareholders can seek relief for loss suffered by the company due to mismanagement and that winding up may be ordered if it is just and equitable.

Court Disposition

appeal allowed

Orders

Company to be wound up on just and equitable grounds