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The High Court granted a temporary injunction in part, restraining disposal of company assets and interference with the status quo pending an unfair prejudice petition.
The applicant failed to establish irreparable loss or that the balance of convenience favored granting the injunction. The company, as a legal entity, can compensate for any loss if the applicant succeeds in the main suit. The request for appointment of a commission was premature and should be addressed in the main suit. The application was therefore dismissed in its entirety.
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The application for stay of execution is granted because the applicants met all statutory conditions: the application was filed within time, substantial loss was demonstrated, and a sufficient undertaking for security was given. The High Court order is executable as it grants rights and directs actions affecting the applicants. The respondents' claim of bias was unfounded and did not meet the legal threshold for recusal.
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The High Court found the removal of four founding directors unlawful, nullified related resolutions and articles amendments, and granted relief for unfair prejudice.
The High Court dismissed an unfair prejudice petition over alleged mismanagement, funds, vehicle use, and director removal, finding the evidence insufficient.
The appeal was dismissed because the petition was a proper derivative action with statutory notice duly served and leave granted; the High Court was justified in granting consequential reliefs, including remission of shares and management, due to breach of the JVA and SPA and lack of consideration; general damages were justified based on the exclusion of minority shareholders and unjust enrichment; and the procedure of determining the petition by affidavits and written submissions was proper and caused no prejudice.
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Commercial dispute over company control, shareholder status, remuneration, goodwill, and alleged misuse of company funds. The court granted broad relief for the plaintiff.
A commercial division consent ruling registered a Deed of Settlement and marked the petition and cross-petition as fully settled.
The dispute was wholly resolved by a lawful Deed of Settlement signed by all parties and filed in court, meeting statutory requirements for enforceability and consent judgment.
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The applicants established a prima facie case of unfair prejudice and risk of irreparable loss, justifying interim restraint orders. However, reliefs that would effectively determine the main suit cannot be granted at this stage. The injunction is limited to requiring joint management and restricting unilateral dealings with company property pending the main suit.
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