Luke Netto (assisted by Aylwyn Seto) successfully defended a majority shareholder
Luke Netto (assisted by Aylwyn Seto) successfully defended a majority shareholder by having claims in misrepresentation and minority oppression struck out by the High Court as the shareholders’ failed to furnish additional security for costs.
In the early days of the suit, our team successfully argued that the shareholder companies were likely insolvent and as such, security for cost should be furnished. The suit progressed as security was furnished.
The High Court struck out and dismissed the claim of the shareholders
Before trial, our team requested for further security. The shareholders objected. Our team succeeded in obtaining such an order. As further security was not furnished, the High Court struck out and dismissed the claim of the shareholders, thereby putting an end to a lawsuit that lasted for close to two years.
If you require assistance or advice on matters involving shareholder disputes, reach out to us for more information on how we could assist.