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Company – Registration. The claimant, a Seychelles international business company, sought a declaration of invalidity in respect of a declaration of trust, by the first defendant, that the claimant held its 99% interest in the fourth defendant company on behalf of the second defendant. The claimant also sought rectification of the register of companies. The Chancery Division, in allowing the claim, held that there was an implied choice of English law and, on the facts, the declaration of trust had been made without the consent of the majority of the claimant's shareholders, and would be declared invalid. The court further ordered that the register of companies be rectified accordingly.
Company – Registration. The claimant, a Seychelles international business company, sought a declaration of invalidity in respect of a declaration of trust, by the first defendant, that the claimant held its 99% interest in the fourth defendant company on behalf of the second defendant. The claimant also sought rectification of the register of companies. The Chancery Division, in allowing the claim, held that there was an implied choice of English law and, on the facts, the declaration of trust had been made without the consent of the majority of the claimant's shareholders, and would be declared invalid. The court further ordered that the register of companies be rectified accordingly.
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