Advised minority shareholders in a manufacturing company in relation to allegations that the majority shareholders had been deceiving them about profitability and monies extracted through alleged management charges.
Our advice led to the client being directed to issue an unfair prejudice petition alleging the various elements of the breach of duties and prejudicial conduct of the majority shareholders. This created focus on the issues and created risk to the majority shareholders.
During proceedings, a resolution was achieved resulting in the clients making sale of their shares to the majority shareholders and achieving a conclusion in their favour in excess of £500,000.
