Representation of Publicis Graphics [2011] JRC 089 (26 April 2011)

Representation of Publicis Graphics [2011] JRC 089 (26 April 2011)

The Court found this to be an unusually strong case warranting strict enforcement of nominee shareholder obligations under the declaration of trust. It ordered Mr Assad to execute the relevant documents within seven days, failing which the Viscount would be directed to execute them pursuant to Article 52 of the Trusts (Jersey) Law 1984, as amended.

Citation
[2011] JRC 089
Parties
Representor: Publicis Groupe SA; Respondent: Mustapha Assad
Jurisdiction
Jersey
Judgment Date
26 April 2011
Procedural Posture
Ex Parte Application / Interlocutory Mandatory Injunction
Outcome
mandatory injunction granted
Legal Topics
Nominee Shareholder Obligations, Mandatory Injunction, Declaration of Trust, Director Removal
Trusts Company Law Injunctions Nominee Shareholder Obligations Mandatory Injunction Declaration of Trust Director Removal

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Parties

Publicis Groupe SA

Representor

Mustapha Assad

Respondent

Procedural Posture

Ex Parte Application / Interlocutory Mandatory Injunction

Legal Issues

  1. 1 Whether the respondent is obliged to comply with the declaration of trust and transfer shares as nominee
  2. 2 Whether the Court should grant a mandatory injunction ex parte to enforce nominee shareholder obligations
  3. 3 Whether the Viscount can be directed to execute documents on behalf of the respondent

Ratio Decidendi

The Court found this to be an unusually strong case warranting strict enforcement of nominee shareholder obligations under the declaration of trust. It ordered Mr Assad to execute the relevant documents within seven days, failing which the Viscount would be directed to execute them pursuant to Article 52 of the Trusts (Jersey) Law 1984, as amended.

Court Disposition

mandatory injunction granted

Orders

  • Mr Assad ordered to execute share transfer and director removal documents in favour of the Representor within seven days
  • If Mr Assad fails to comply, the Viscount is directed to execute the documents on his behalf pursuant to Article 52 of the Trusts (Jersey) Law 1984, as amended