In re Inter Channel Pharmaceuticals Ltd v [2002] JRC 116A (10 June 2002)

In re Inter Channel Pharmaceuticals Ltd v [2002] JRC 116A (10 June 2002)

It is impracticable to conduct a shareholders' meeting due to the minority shareholder's refusal to attend, and the court should exercise its discretion under Article 94 to convene a meeting with a quorum of one to prevent the minority from frustrating the majority's rights.

Citation
[2002] JRC 116A
Parties
Representor: Inter-Channel Pharmaceuticals Limited (ICP); Respondent: Mr Hamza Oguz; Director: Mr Ulagay
Jurisdiction
Jersey
Judgment Date
10 June 2002
Procedural Posture
Company Law Application / Application Under Article 94 of the Companies (jersey) Law 1991
Outcome
Application granted
Legal Topics
Shareholder Rights, Quorum Requirements, Removal of Directors, Court Ordered Meetings
Company Law Shareholder Rights Quorum Requirements Removal of Directors Court Ordered Meetings

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Parties

Inter-Channel Pharmaceuticals Limited (ICP)

Representor

Mr Hamza Oguz

Respondent

Mr Ulagay

Director

Procedural Posture

Company Law Application / Application Under Article 94 of the Companies (jersey) Law 1991

Legal Issues

  1. 1 Whether the court should order a shareholders' meeting to be convened with a reduced quorum due to impracticability under Article 94 of the Companies (Jersey) Law 1991

Ratio Decidendi

It is impracticable to conduct a shareholders' meeting due to the minority shareholder's refusal to attend, and the court should exercise its discretion under Article 94 to convene a meeting with a quorum of one to prevent the minority from frustrating the majority's rights.

Court Disposition

Application granted

Orders

  • A shareholders' meeting is to be convened on Friday 5th July.
  • One shareholder present in person or by proxy shall constitute a quorum for the meeting.