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Company – Shares in company. The issue was whether the defendants were liable to reimburse the claimant in respect of a payment it had made for the payment up of shares in a company, which the parties had acquired for a joint venture. The claimant contended that the defendants were so liable under the terms of an agreement for the financing of the joint venture. The Companies Court held that the defendants were liable to reimburse the claimant as contended. The claimant's contractual right to be reimbursed had not been waived or otherwise affected by a subsequent compromise agreement between the parties.
Company – Shares in company. The issue was whether the defendants were liable to reimburse the claimant in respect of a payment it had made for the payment up of shares in a company, which the parties had acquired for a joint venture. The claimant contended that the defendants were so liable under the terms of an agreement for the financing of the joint venture. The Companies Court held that the defendants were liable to reimburse the claimant as contended. The claimant's contractual right to be reimbursed had not been waived or otherwise affected by a subsequent compromise agreement between the parties.
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