Shareholder

Background

Two people set up a company 20 years ago. The company changed direction and differences arose between the directors. One resigned as a director to allow the other to pursue his direction. Having resigned the director who left the board remained a shareholder as a long-term investment. But changes were made to the shareholdings in subsequent years and there were no dividends or general meetings of the company. The dispute arose over the unfair treatment of a shareholder.

Claimants allege agreement by Defendant in 2020/21 to transfer shares for an agreed and paid sum. Defendant alleges agreement is void or rescinded so that the shares remain his, alternatively claims damages for misrepresentation based on true value c£250,000. Both parties will also have substantial and ongoing legal costs.

Outcome

The claim settled at Mediation.