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Company – Minority shareholder. The Chancery Division considered the issue of whether the claimant would be allowed to continue an action against the first defendant as a derivative claim on behalf of and for the benefit of the second and third defendant companies. The court held that the claimant had failed to satisfy it that the proposed derivative action fell within the exception to the rule in Foss v Harbottle (1843)67 ER 189, and so the application would be dismissed.
Company – Minority shareholder. The Chancery Division considered the issue of whether the claimant would be allowed to continue an action against the first defendant as a derivative claim on behalf of and for the benefit of the second and third defendant companies. The court held that the claimant had failed to satisfy it that the proposed derivative action fell within the exception to the rule in Foss v Harbottle (1843)67 ER 189, and so the application would be dismissed.
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