Representation of LMG Lighthouse Trust Reg re Martinoon Limited 28-Oct-2019 [2019] JRC 214B (28 October 2019)
The court has jurisdiction and discretion to rectify the share register; Salamander's dissolution prevents transfer, and the Representor is the sole trustee entitled to be registered as shareholder. Rectification is necessary to enable Martinoon Limited to operate and administer its assets.
- Citation
- [2019] JRC 214B
- Parties
- Applicant: Representor; Respondent: Martinoon Limited
- Jurisdiction
- Jersey
- Judgment Date
- 28 October 2019
- Procedural Posture
- Rectification Application / Judgment
- Outcome
- application granted
- Legal Topics
- Rectification of Share Register, Trustee Replacement, Corporate Governance
Case Brief
Summary, issues, holding and outcome
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Parties
Representor
Applicant
Martinoon Limited
Respondent
Procedural Posture
Rectification Application / Judgment
Legal Issues
- 1 Whether the share register of Martinoon Limited should be rectified to reflect the Representor as trustee
- 2 Whether Salamander Trust Company Ltd was validly removed as trustee
- 3 Whether the dissolution of Salamander affects the transfer of shares
Ratio Decidendi
The court has jurisdiction and discretion to rectify the share register; Salamander's dissolution prevents transfer, and the Representor is the sole trustee entitled to be registered as shareholder. Rectification is necessary to enable Martinoon Limited to operate and administer its assets.
Court Disposition
application granted
Orders
- Order for rectification of Martinoon's share register to replace Salamander with the Representor as shareholder.
- Amendment to paragraph 1 regarding Trident Trust Company.
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