Gamlestaden v Baltic Partners Ltd. [2005] JLR 57 (10 February 2005)

Gamlestaden v Baltic Partners Ltd. [2005] JLR 57 (10 February 2005)

Relief under art. 143 is available to a shareholder if it would relieve unfair prejudice to the applicant's interests as a shareholder, even if the company is insolvent.

Citation
[2005] JLR 57
Parties
Applicant: Gamlestaden; Respondent: Baltic Partners Ltd.
Jurisdiction
Jersey
Judgment Date
10 February 2005
Procedural Posture
Company Law Unfair Prejudice Petition / Judgment
Outcome
Relief under art. 143 not precluded by insolvency; must relate to shareholder interests.
Legal Topics
Minority Shareholders, Unfair Prejudice, Insolvency, Relief Under Companies (jersey) Law 1991 Art. 143
Company Law Minority Shareholders Unfair Prejudice Insolvency Relief Under Companies (jersey) Law 1991 Art. 143

Case Brief

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Parties

Gamlestaden

Applicant

Baltic Partners Ltd.

Respondent

Procedural Posture

Company Law Unfair Prejudice Petition / Judgment

Legal Issues

  1. 1 Whether relief under Companies (Jersey) Law 1991, art. 143 is available to a shareholder if the company is insolvent
  2. 2 Whether relief can be granted only if it would relieve unfair prejudice to the applicant's interests as shareholder, not other interests

Ratio Decidendi

Relief under art. 143 is available to a shareholder if it would relieve unfair prejudice to the applicant's interests as a shareholder, even if the company is insolvent.

Court Disposition

Relief under art. 143 not precluded by insolvency; must relate to shareholder interests.