Lord Glennie, sitting in the Outer House of the Court of Session, has given his opinion in Robertson, Re Order Under Section 459 Of The Companies Act 1985 [2009] CSOH23. His opinion is of interest because of one of the grounds on which he found that the company's affairs had been conducted in a manner unfairly prejudicial to the interests of the petitioner under Section 459: the decision by two directors (who held 50% of the company's shares) to stockpile rather than sell unprocessed non-ferrous materials, the result of which was to reduce the company's profitability. Notes:
[2] For earlier opinions of Lord Glennie concerning the unfair prejudice remedy, see: Gowanbrae Properties Ltd, a Petition of [2008] CSOH 106, West Coast Capital (Lios) Ltd, Re an Order Under Section 994 Of The Companies Act 2006 [2008] CSOH 72 and Whillock v Henderson (AP) & Ors [2007] CSOH 175.
[3] Lord Glennie was appointed the Principal Commercial Judge in January 2008.
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