Gregory Denton-Cox and Emma Horner represent successful minority shareholders in unfair prejudice claim

February 11, 2021

The Royal Court of Jersey has recently handed down judgment in Financial Technology Ventures II (Q) LP and Ors v ETFS Capital Limited and Tuckwell [2021] JRC 025, a minority shareholders’ action seeking a share purchase order on the grounds of unfair prejudice or a just and equitable winding up. Following a four-week trial held in Jersey in October and November 2020, the Royal Court held that unfair prejudice had been established and that it would be open to it to make a winding up order, and granted relief by ordering the majority shareholder and/or the Company to buy out the minority shareholders’ shares. The plaintiff shareholders were US growth and venture capital firms who sought relief as a result of unfairly prejudicial conduct by the majority shareholder following the sale of substantially all of the assets of the company in 2018.  Due to the ongoing Covid-19 pandemic and travel restrictions, nearly all the witnesses gave their evidence via video link.

Gregory Denton-Cox and Emma Horner acted for the successful petitioners. The full judgment can be found here.