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Unfair prejudice remedies: Is limitation dead? Relevant legal provisions Background Judgment Implications for offshore jurisdictions
In THG Plc v Zedra Trust Company, the UK Supreme Court, by 4-1, overturned the Court of Appeal and held that no statutory limitation period applies to unfair prejudice petitions under section 994 of the Companies Act 2006 (the CA).
Section 994 of the CA allows a shareholder in a company to petition to the court for a remedy on grounds that the company's affairs are being or have been conducted in a manner that is unfairly prejudicial to the interests of members generally or some of its members, or that an actual or proposed act or omission of the company is or would be unfairly prejudicial…
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