PETER TE LINTEL AND SOLANDRA LTD MISC
The respondents' failure to file a verifying affidavit to their answer rendered their factual allegations inadmissible, leaving the petitioners' verified allegations unopposed. The 2nd and 3rd respondents, as resident directors, failed to hold statutory meetings, withheld financial information, and did not comply with statutory requirements, amounting to conduct that was unfairly prejudicial to the petitioners' interests as members under section 233 of the Companies Act. The petition was thus meritorious and appropriate remedies were granted.
Source excerpt
- Unfair prejudice
- Shareholder rights
- Corporate governance
- Directors' duties
- Statutory meetings
- Financial disclosure