Saxon Woods Investments Limited v Francesco Costa & ors [2024] EWHC 387 (Ch)
23rd February 2024
Erskine Chambers is pleased to share the decision in Saxon Woods Investments Limited v Francesco Costa & ors.
The Judgment was handed down on Thursday 22 February 2024 in proceedings before the High Court. Edward Davies KC & Jack Rivett acted for the successful petitioner in a petition under section 994 of the Companies Act 2006 in relation to the affairs of a company called Spring Media Investments Limited. They were instructed by Stephenson Harwood (Genevieve Quierin, supported by Adam Polonsky, Michael Barron and Danielle Slye).
The High Court found that the company had acted in breach of a requirement in a shareholders’ agreement to work towards an exit (which was defined as a sale of all or substantially all of the company’s share capital), and that the First Respondent (who is the Chairman and a substantial investor in the company) was responsible for the company’s breach. The Court concluded that, in the circumstances, the Petitioner, who is a minority shareholder, has suffered unfair prejudice.
To read the full Judgment, please click here.
