Mooney v Keys & Ors [2012] NICh 23 (10 September 2012)

Mooney v Keys & Ors [2012] NICh 23 (10 September 2012)

Directors acted in good faith and within their absolute discretion under the articles to refuse registration of petitioner as shareholder; no unfair prejudice was established in relation to share transfer, directors' remuneration, cessation of sales, or provision of information; petitioner is not entitled to relief.

Citation
[2012] NICh 23
Parties
Petitioner: Winifred Mooney; Respondent: Derek Keys; Respondent: Dermot Faller; Respondent: Maiden City Developments Limited
Jurisdiction
Northern Ireland
Judgment Date
10 September 2012
Procedural Posture
Company Law Petition / Final Judgment
Outcome
Petition dismissed
Legal Topics
Unfair Prejudice, Share Transfer, Directors' Discretion, Excessive Remuneration, Locus Standi
Company Law Equity Unfair Prejudice Share Transfer Directors' Discretion Excessive Remuneration Locus Standi

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Parties

Winifred Mooney

Petitioner

Derek Keys

Respondent

Dermot Faller

Respondent

Maiden City Developments Limited

Respondent

Procedural Posture

Company Law Petition / Final Judgment

Legal Issues

  1. 1 Whether petitioner has locus standi to bring unfair prejudice petition
  2. 2 Whether refusal to register share transfer constitutes unfair prejudice
  3. 3 Whether directors' remuneration was excessive and unfairly prejudicial

Ratio Decidendi

Directors acted in good faith and within their absolute discretion under the articles to refuse registration of petitioner as shareholder; no unfair prejudice was established in relation to share transfer, directors' remuneration, cessation of sales, or provision of information; petitioner is not entitled to relief.

Court Disposition

Petition dismissed