6: EFFECT OF COMPANY’S FAILURE TO REDEEM OR PURCHASE

215 Enforcement

Where a company either issues shares on terms that they are, or are liable to be, redeemed, or agrees to purchase any of its shares, and then fails to redeem or purchase any of the shares as the case may be, it will not be liable in damages as a result1. The court will not grant an order for specific performance of the terms of the redemption or purchase if the company can show that it is unable to meet the costs of redeeming or purchasing the

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