Faulkner & ors (petitioners/respondents) v Vollin Holdings Ltd & ors (respondents/appellants)

quarta-feira 4 – Friday 6 May 2022

Before Lord Justice Newey
Lady Justice Carr
Lord Justice Snowden

The 1st, 2nd together with 5th Respondents, appeal the judgment of Johnson J dated 31 March 2021, whereby he found that the Petitioners had been unfairly prejudiced at the hands of the Investor, together with directed: that the active Respondents purchase the Petitioners’ shares together with gave trial management directions regarding valuation issues.

This was an unfair prejudice petition brought under s994 of the Companies deed 2006. The Petitioners were minority shareholders in chemical compound Photonics Group Limited (CPGL), including a former director together with chairman (Mr Faulkner is 1st Petitioner) together with a former director together with CEO (Dr Sachs is 2nd Petitioner). The remaining 67 Petitioners are individual investors who were introduced to CPGL, together with the 2nd Petitioner by the 1st Petitioner, in his former role as an independent financial adviser. The 2nd together with 5th Respondents are the present majority shareholders in CPGL. The 1st Respondent was a majority shareholder at relevant times in the lower court proceedings.