12 Oct 2010
MARLBOROUGH LINES LIMITED V THE TAKEOVERS PANEL AND ANOR HC WN CIV-2010-485-001150
- Citation
- openlaw-4e909b74_4a71_4524_9890_2777fdb25168.pdf
- Court
- High Court
The Court held the Panel erred in law by refusing to consider whether the Cameron Partners valuation, upon which Horizon's directors relied to form an opinion on value, was material and therefore required disclosure; the Panel must determine both the directors' opinion and whether the underlying information was material because the issues are inextricably linked. The Court further held the Panel should afford parties an opportunity to be heard on costs in the circumstances and directed reconsideration of costs. The Court held the Panel did not have jurisdiction under s32 to determine recovery…