O’Reilly Stewart were recently instructed to act in a Shareholder dispute on behalf of a Director and Shareholder, who had been excluded from acting in that capacity in a local construction company. The Director he had started and built up the company from instigation with his fellow Directors. Christina Lishman of our Commercial Department acted in the case. Proceedings were issued in the High Court by way of an unfair prejudice petition, citing that his fellow Directors had been acting in breach of their fiduciary and statutory duties to the Company. The Summons therefore sought for an Order to be made for the purchase of his shares at a value that they would have been, should the company’s affairs not had been conducted in an unfairly prejudicial manner.
Following lengthy and protracted negotiations the Directors agreed to purchase our client’s shares for an agreed value prior to hearing.
This ensured that the matter was resolved in a prompt and efficient fashion in order that the Director could pursue other investment options and remove himself from the running of the company.
Should you require any advice as regards to any Shareholder or Director disputes regarding your company please do not hesitate to contact Christina Lishman of our Commercial Department on 02890 321 000.