Judgment was given last Friday in F&C Alternative Investments (Holdings) Ltd v Barthelemy [2011] EWHC 2807 (Ch). Amongst the matters was discussed was the scope of section 996 of the Companies Act (2006), under which the court is given the power to make an order on such terms as it sees fit in respect of unfairly prejudicial conduct. The trial judge stated that the discretion under section 996 was "very wide" and could include an order that a party should write to the Financial Services Authority to undo the effect of its unfairly prejudicial behaviour in pursuing an investigation.
Monday, 31 October 2011
UK: England and Wales: the court's discretion under section 996 of the Companies Act (2006)
Judgment was given last Friday in F&C Alternative Investments (Holdings) Ltd v Barthelemy [2011] EWHC 2807 (Ch). Amongst the matters was discussed was the scope of section 996 of the Companies Act (2006), under which the court is given the power to make an order on such terms as it sees fit in respect of unfairly prejudicial conduct. The trial judge stated that the discretion under section 996 was "very wide" and could include an order that a party should write to the Financial Services Authority to undo the effect of its unfairly prejudicial behaviour in pursuing an investigation.
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