19 Aug 2010
MARTIN V MARTINBOROUGH BREWING COMPANY LIMITED AND ORS HC WN CIV-2006-435-032
- Citation
- openlaw-f6df7e7a_d41b_4ee7_8594_db06715ba7fe.pdf
- Court
- High Court
No unconditional transfer of shares was proved because the alleged transfer was subject to a General Security Agreement condition which was not completed; therefore plaintiff remained 50% shareholder and the Companies Office entry recording 33% was incorrect. The defendants' conduct in transferring assets to MBA Limited and later selling remaining assets without the plaintiff's approval constituted unfairly prejudicial conduct under s174, but the plaintiff's prior actions—serving statutory demands, purchasing and enforcing the bank facility/security—materially harmed the company and weighed a…