Unfair prejudice Definition

鈥� Case studies

"LexisPSL and the other Lexis solutions support our business in exactly the way we want. They enable us to quickly turn around work and deliver the best possible service to our clients."

SBP Law

Access all 23 documents on Unfair prejudice

GET ACCESS NOW

GLOSSARY

Published by a 成人影音 Corporate expert

What does Unfair prejudice mean?

An unfair prejudice petition is a statutory remedy available to shareholders of a company provided by CA 2006, ss 994鈥�999. It is the primary procedure by which a minority shareholder who is the victim of 'unfairly prejudicial' conduct can obtain relief from the court.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business鈥揳ll whilst saving time and reducing risk.

Differences between restructuring plans, schemes of arrangement, and CVAs

Differences between restructuring plans, schemes of arrangement, and CVAs Part 26A restructuring plans The Corporate Insolvency and Governance Act 2020 (CIGA 2020) introduced a new restructuring tool, namely a Part 26A restructuring plan. Consultation responses and discussions with stakeholders persuaded the government of the benefits of modelling the restructuring plan procedure on that of schemes of arrangements. As well as familiarity, this had the advantage of providing a long-established and tested body of jurisprudence that courts are able to draw upon when dealing with certain aspects of restructuring plans and considering matters such as class formation (ie relevant scheme case law is applicable to certain provisions of the new restructuring plan procedure, see: Schemes of arrangement鈥攐verview). CIGA 2020 introduced a restructuring procedure that allows a company to bind all creditors or members, including junior (or senior) classes of creditors even if they vote against the plan, through the use of a cross-class cram down (CCCD) provision if certain conditions are satisfied (see Practice Note: Cross-Class Cram Down under a Part...

Checklist: British Property Federation engagement protocol and red flags for company voluntary arrangements

Checklist: British Property Federation engagement protocol and red flags for company voluntary arrangements The British Property Federation (BPF) is an industry group for the UK real estate industry and strongly encourages prospective proposers of a company voluntary arrangement (CVA) and their nominees to consult with the BPF in advance of a CVA proposal being distributed. This allows representatives of the landlord community to identify particular issues within a CVA that may need to be addressed, and therefore helps to maximise the likelihood of approval. This engagement should (say the BPF) be in addition to鈥攁nd not a substitute for鈥攅ngagement with individual landlords (or groups of them) in relation to matters specific to them. The BPF protocol includes a statement of best-practice, which details how they expect companies to engage with the BPF on potential CVAs. Part of this guidance is a list of what the BPF believes to be the top 10 鈥榬ed-flag鈥� clauses for landlords. The BPF cautions any prospective landlord voting on a proposed CVA to look out for...

Discover our 2 Checklists on Unfair prejudice

Court procedure鈥攔eduction of capital鈥攅ffect of the reduction

Court procedure鈥攔eduction of capital鈥攅ffect of the reduction It is a fundamental rule of English company law that a limited company having a share capital must maintain that capital. Therefore, a company must not reduce its capital, except as prescribed by law. This capital maintenance rule is intended to protect a company鈥檚 creditors by ensuring that the assets representing the capital of a company remain available to them for future recourse. There are provisions in the Companies Act 2006 (CA 2006) governing how a limited company may reduce its capital. The restrictions in CA 2006 relating to reductions of capital do not apply to unlimited companies. For further information on this type of company, see Practice Note: Unlimited companies. The focus of this Practice Note is on reductions of capital in accordance with CA 2006, Pt 17, Ch 10, in particular, those carried out by a special resolution confirmed by court order (the court procedure) rather than those carried out by a special resolution supported by a solvency...

The insolvency process in Scotland鈥攊mpact on the landlord and tenant鈥攃ommercial leases

The insolvency process in Scotland鈥攊mpact on the landlord and tenant鈥攃ommercial leases What effect does insolvency have on the operation of a lease? This Practice Note seeks to answer that question and address to some of the most common concerns which may arise on the introduction of an insolvency practitioner (IP) to the landlord and tenant relationship in relation to commercial premises. Types of Insolvency Process It should be noted that the insolvency process depends on where the tenant is located (eg its registered office in the case of a corporate entity) and not the location of the leased premises. For the purposes of this Practice Note, it is assumed that both the landlord and tenant are based in Scotland and that the lease is governed by Scots law. The main formal insolvency processes in Scotland are set out below. Corporate Administration Administration is a process that operates to provide a framework for the rescue of an insolvent company. An administrator will be appointed and, while the company continues to exist,...

Discover our 18 Practice Notes on Unfair prejudice

Arbitration and oppression claims under Cayman Law (PI 1 & PI 2 v MR)

Arbitration analysis: In this decision, the Hong Kong Court of First Instance dismissed an application under section 34 of the Arbitration Ordinance (Cap 609) challenging an arbitral tribunal鈥檚 jurisdiction over a shareholder dispute involving allegations of oppressive and discriminatory conduct. The court held that such claims while potentially relevant to a future winding-up petition under the Cayman Islands Companies Act, were both arbitrable and within the scope of the parties鈥� arbitration agreement. Drawing on the Privy Council鈥檚 reasoning in FamilyMart China Holding Co Ltd v Ting Chuan (Cayman Islands) Holding Corp, the court clarified that arbitral tribunals may determine factual disputes underlying such petitions even if statutory remedies remain solely within the Cayman courts. This decision confirms Hong Kong鈥檚 alignment with a pro-arbitration position in corporate disputes involving offshore structures. Written by Julien Chaisse, Professor at City University of Hong Kong School of Law.

High Court confirms the procedure and legal considerations for applications to extend time to bring a planning judicial review. (Re: Amalgamated Smart Metering Ltd v Rotherham Metropolitan Borough Council)

Dispute Resolution analysis: Where an application for judicial review relates to a decision made by the Secretary of State or a local planning authority under the planning acts, the claim form must be filed not later than six weeks after the grounds to make the claim first arose. However, this rule is not absolute for a judicial review claim and the court has powers under Civil Procedure Rule (CPR) 3.1(2)(a) to extend the time limit. In contrast, the relevant legislation for statutory reviews do not permit the period to be extended at all. Where the time limit has already expired for a planning judicial review, the claimant must apply for an extension of time in the claim form. The application will then be considered by the judge at the same time as deciding whether to grant permission to apply for judicial review. In giving judgment Robert Palmer KC, sitting as Deputy Judge of the High Court, confirmed that the court in determining whether to grant an extension of time will...

Read the latest 5 News articles on Unfair prejudice

Top

Trial

GLOSSARY