16 Feb 2011
S & J BARBER V GREEN CABS LIMITED HC WN CIV-2010-485-2221
- Citation
- openlaw-ae8e43bd_448a_4dc6_81d4_fb0474764913.pdf
- Court
- High Court
Given plaintiffs are a very small minority (2.17%), over 90% of shareholders oppose liquidation, creditors do not support it, remedial steps were underway and alternative remedies exist, the court concluded liquidation is an extreme and inappropriate remedy here and that the s 241 claim could not possibly succeed; the proceeding was therefore struck out as untenable and an abuse of process (frivolous/vexatious) rather than allowed to proceed to substantive hearing.