July 24, 2025
The Privy Council has given an important judgment in relation to appraisal proceedings under s. 106 of the Bermuda Companies Act 1981. The question was whether funds that acquired their shares after notice had been given of a proposed amalgamation that was bound to be approved by the members were entitled to bring appraisal proceedings, and if so whether the trial court would be entitled to attribute different ‘fair values’ to different members’ shares depending on the timings and circumstances in which the shares were acquired. Jonathan Crow CVO, KC represented the appellant, Jardine Strategic Ltd.
Read the judgment.
