Financial Technology Ventures II (Q) LP and Ors v ETFS Capital Limited and Tuckwell [2020] JRC 082 (07 May 2020)

Financial Technology Ventures II (Q) LP and Ors v ETFS Capital Limited and Tuckwell [2020] JRC 082 (07 May 2020)

Leave to amend is granted for the Relocation and Relief Amendments as they are timely, sufficiently pleaded, and not hopeless; Solicitation Amendments are refused as they do not advance the case or plead prejudice. Ancillary discovery is ordered only for relevant periods and topics. Costs for amending Answers to be paid by plaintiffs; hearing costs are costs in the cause.

Citation
[2020] JRC 082
Parties
Plaintiffs: FTV II (Q) LP and Ors; First Defendant: ETFS Capital Limited; Second Defendant: Mr Tuckwell
Jurisdiction
Jersey
Judgment Date
07 May 2020
Procedural Posture
Shareholder Dispute / Unfair Prejudice Application / Interlocutory Application for Leave to Amend Pleadings and Consequential Directions
Outcome
Leave to amend granted in part; Relocation and Relief Amendments allowed, Solicitation Amendments refused.
Legal Topics
Unfair Prejudice, Just and Equitable Winding Up, Amendment of Pleadings, Fiduciary Duties, Discovery, Minority Shareholder Rights, Tax Implications
Company Law Civil Procedure Unfair Prejudice Just and Equitable Winding Up Amendment of Pleadings Fiduciary Duties Discovery Minority Shareholder Rights +1 more

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Parties

FTV II (Q) LP and Ors

Plaintiffs

ETFS Capital Limited

First Defendant

Mr Tuckwell

Second Defendant

Procedural Posture

Shareholder Dispute / Unfair Prejudice Application / Interlocutory Application for Leave to Amend Pleadings and Consequential Directions

Legal Issues

  1. 1 Whether leave should be granted to amend the Order of Justice to include Relocation Amendments, Solicitation Amendments, and Relief Amendments
  2. 2 Whether the amendments are late, hopeless, or infringe pleading rules
  3. 3 Whether ancillary discovery should be ordered

Ratio Decidendi

Leave to amend is granted for the Relocation and Relief Amendments as they are timely, sufficiently pleaded, and not hopeless; Solicitation Amendments are refused as they do not advance the case or plead prejudice. Ancillary discovery is ordered only for relevant periods and topics. Costs for amending Answers to be paid by plaintiffs; hearing costs are costs in the cause.

Court Disposition

Leave to amend granted in part; Relocation and Relief Amendments allowed, Solicitation Amendments refused.

Orders

  • Plaintiffs to file amended Order of Justice (excluding Solicitation Amendments) by specified date.
  • Defendants to file Amended Answers by specified date.