Consolidated Resources -v- Global Gold and Others [2014] JRC 124 (05 June 2014)

Consolidated Resources -v- Global Gold and Others [2014] JRC 124 (05 June 2014)

There was material but innocent non-disclosure by the plaintiff in the ex parte application; however, the non-disclosure would not have affected the grant of the interim injunctions, and it would be disproportionate to set aside the injunctions on this basis. The injunctions will remain in force.

Citation
[2014] JRC 124
Parties
Plaintiff: Consolidated Resources; Third Defendant: Global Gold; First Defendant: Global Gold Consolidated Resources Limited; Second Defendant: Mr Van Krikorian
Jurisdiction
Jersey
Judgment Date
05 June 2014
Procedural Posture
Interim Injunction Application / Application to Set Aside Ex Parte Interim Injunctions
Outcome
Application to set aside interim injunctions dismissed; interim injunctions to remain in force.
Legal Topics
Unfair Prejudice, Joint Venture Disputes, Interim Injunctions, Material Non Disclosure, Shareholders' Rights
Company Law Injunctions Unfair Prejudice Joint Venture Disputes Interim Injunctions Material Non Disclosure Shareholders' Rights

Case Brief

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Parties

Consolidated Resources

Plaintiff

Global Gold

Third Defendant

Global Gold Consolidated Resources Limited

First Defendant

Mr Van Krikorian

Second Defendant

Procedural Posture

Interim Injunction Application / Application to Set Aside Ex Parte Interim Injunctions

Legal Issues

  1. 1 Whether there was material non-disclosure by the plaintiff in obtaining ex parte interim injunctions
  2. 2 Whether the interim injunctions should be set aside for material non-disclosure
  3. 3 Whether the conduct of the defendants was unfairly prejudicial to the plaintiff's interests

Ratio Decidendi

There was material but innocent non-disclosure by the plaintiff in the ex parte application; however, the non-disclosure would not have affected the grant of the interim injunctions, and it would be disproportionate to set aside the injunctions on this basis. The injunctions will remain in force.

Court Disposition

Application to set aside interim injunctions dismissed; interim injunctions to remain in force.

Orders

  • Interim injunctions granted on 10 March 2014 to remain in force.
  • Matter to be expedited to a final hearing with directions to be given.