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Gamlestaden Fastigheter AB v Baltic Partners Limited & Ors (2007)

Summary

Facts

Held

Relief is not precluded under Articles 141 and 143 of the Companies (Jersey) Law 1991 (or sections 459 and 461 of the Companies Act 1985) merely on the ground that the relief sought will not benefit the applicant in his capacity as member. Where an investor in a joint venture company has, in pursuance of the joint venture agreement, invested not only in subscribing for shares but also in advancing loan capital, the investor ought not to be precluded from the grant of relief on the ground that the relief would benefit the investor only as loan creditor and not as member.

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Judgment
25 Apr 2007

Privy Council
Lord Scott, Lord Philips, Lord Rodger, Lord Brown, Lord Mance

References
‚ÄčLTL 25/4/2007 : (2007) Bus LR 1521 : (2007) 4 All ER 164 : (2007) BCC 272; (2008) 1 BCLC 468 

Members
Catherine Newman QC
Michael Gibbon QC

Practice areas
Company, Partnerships & LLPs