Gamlestaden v Baltic [2004] JLR 270 (22 July 2004)

Gamlestaden v Baltic [2004] JLR 270 (22 July 2004)

Relief under Companies (Jersey) Law 1991, art. 141 is only available to applicants acting as shareholders and only if the shares have potential value; if the company is insolvent, relief is unavailable.

Citation
[2004] JLR 270
Parties
Applicant: Gamlestaden; Respondent: Baltic
Jurisdiction
Jersey
Judgment Date
22 July 2004
Procedural Posture
Company Law Application / Judgment
Outcome
application dismissed
Legal Topics
Minority Shareholder Protection, Unfair Prejudice, Companies (jersey) Law 1991 Art. 141
Company Law Minority Shareholder Protection Unfair Prejudice Companies (jersey) Law 1991 Art. 141

Case Brief

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Parties

Gamlestaden

Applicant

Baltic

Respondent

Procedural Posture

Company Law Application / Judgment

Legal Issues

  1. 1 Whether an applicant under Companies (Jersey) Law 1991, art. 141 can claim in a capacity other than as shareholder
  2. 2 Whether relief is available if the company is insolvent

Ratio Decidendi

Relief under Companies (Jersey) Law 1991, art. 141 is only available to applicants acting as shareholders and only if the shares have potential value; if the company is insolvent, relief is unavailable.

Court Disposition

application dismissed