The range of relief available in response to a petition for unfair prejudice is very broad, and includes a power to order Albion to compensate EIGL for its losses
78.I would accept that the Court has a very broad discretion as to the relief it can award if unfair prejudice is made out. However, EIGL’s contention that the requisite element of mutuality for an equitable set-off is satisfied here is premised on the Jersey court granting relief in respect to its unfair prejudice which requires Albion to make a payment to EIGL, not to Heritage. 79.Mr Morpuss QC pointed to cases in which claims for directors’ breaches of fiduciary duty to the company had been litigated as part of unfair prejudice petitions. However, those claims have almost invariably involved the litigation of claims on behalf of the company with orders being sought for payment to the company, brought as an adjunct to unfair prejudice relief sought by the shareholder. In
- Mr Justice Foxton :
- The background
- The relevant arbitration and jurisdiction agreements
- The proper approach on a s.9 application
- Buildmaster Construction Services) v Islamic Press
- The approach to overlapping dispute resolution clauses
- BNP Paribas v Trattamento Rifiuti Metropolitani SpA
- Risk Group
- Sebastian Holdings
- Group
- Nordbank
- Savona
- Trattamento
- Services Ltd v Upaid
- UBS AG v HSH Nordbank AG
- UBS AG
- Kaltim Prima Coal
- Exploration Corp
- Analysis and conclusion
- The test for summary judgment
- Easyair Limited v Opal Telecom Limited
- Swain v Hillman
- ED & F Man Liquid Products v Patel
- Hillman
- ED & F Man
- Liquid Products v Patel
- Royal Brompton Hospital NHS Trust v Hammond (No 5)
- Pharmaceutical Co 100 Ltd
- ICI Chemicals & Polymers Ltd v TTE Training Ltd
- EIGL’s factual complaints in more detail
- Introduction
- The parties’ arguments in summary
- Arbuthnott v Fagan
- Is the right of set-off excluded by the SpA?
- Restaurants Ltd v. Indoor Leisure Ltd
- Investments Ltd
- In re Nortel GmbH
- EIGL’s case in summary
- Relief for unfair prejudice
- The Disputed Payments involved mismanagement of Heritage “on behalf of Albion” and Albion’s “failure to disclose what had occurred”
- F & C Alternative Investments (Holdings) Ltd v Barthelemy and another
- (No 2)
- The mismanagement gave rise to unfair prejudice so far as EIGL is concerned, because EIGL has suffered prejudice which cannot be remedied notwithstanding EIGL’s majority control of Heritage
- Re Legal Costs Negotiators Ltd
- Re Bird Precision Bellows Ltd
- Cool Seas (Seafoods) Limited v. Interfish Limited
- Sikorski v Sikorski and another
- Cool Seas
- Re Blackwood Hodge plc
- Re a Company
- Legal Costs Negotiators Ltd
- Re Baltic Estate Ltd (No 2)
- Re Ringtower Holdings
- The range of relief available in response to a petition for unfair prejudice is very broad, and includes a power to order Albion to compensate EIGL for its losses
- Call
- Re Chime Corp Ltd; Kung v Kou
- Foss v Harbottle
- Re Chime Corp Ltd
- Re Charnley Davies Ltd (No 2
- Is there a serious issue to be tried that the amount of such compensation in this case equals or exceeds the amount of Albion’s claim?
- The unfair prejudice claim is sufficiently closely connected with Albion’s claim to meet the test of equitable set-off
- Metaalconstructive NV v Simon Carves Ltd
- Aectra Refining & Marketing Inc v Exmar NV
- Stay
