Friday 14 February 2014

UK: England and Wales: High court endorses earlier decision on multiple derivative actions

Judgment was given yesterday in Abouraya v Sigmund [2014] EWHC 277 (Ch). The decision is noteworthy because the trial judge, Mr Justice David Richards, explicitly endorsed the reasoning and conclusions of Mr Justice Briggs (as he then was) in Universal Project Management Services Ltd v Fort Gilkicker Ltd [2013] EWHC 348 (Ch), [2013] Ch 551. In this latter case, a summary for which is available here, Briggs J. held that the English common law recognised multiple derivative actions before the coming into force of the Companies Act 2006 and that they had survived the Act's introduction.

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