- Unfair prejudice petitions in profile—company funding and contractual undertakings (Re Profile Partners Ltd)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Dispute Resolution analysis: This judgment is helpful to litigants involved in section 994 of the Companies Act 2006 (CA 2006) petitions, especially where company funding is concerned. It related to an application for injunctive relief to prohibit the use of corporate finances to fund a dispute between shareholders pending the determination of the petition. The court granted an interim injunction in support of the unfair prejudice petition, ruling that ancillary proceedings were not distinct from the petition and company funds would give majority shareholders an unfair financial advantage in the litigation, which could not be adequately compensated by way of damages. Written by Natalie Todd, partner, and Anastasia Tropsha, trainee solicitor, at PCB Litigation LLP.
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