Estera [2019] EWHC 2039 (Ch)

WTLR Issue: Web Only

In the matter of: EDWARDIAN GROUP LIMITED

ESTERA TRUST (JERSEY) LIMITED

HERINDER SINGH

V

JASMINDER SINGH

VERITE TRUST COMPANY LIMITED

JEMMA TRUST COMPANY LIMITED

EDWARDIAN GROUP LIMITED

JASMINDER SINGH AND HERINDER SINGH

Analysis

The Petitioners brought an unfair prejudice petition against the First Respondent in respect of their management of the Fourth Respondent (the Company). Following a liability trial, the First Respondents and the Company were ordered to purchase the Petitioners’ shares in the Company at a price to be determined. A quantum trial followed in which the purchase price was determined and an initial sum to be paid on account of the full price within 28 days, with the balance to be paid within 6 months. The wording of the order was left to the parties.

Counsel details

Mr Steven Gee Q.C., Mr Giles Goodfellow Q.C., Mr Oliver Conolly and Mr Alex Barden (instructed by Arnold & Porter Kaye Scholer LLP) for the Petitioners
Mr Ian Croxford Q.C., Mr Daniel Lightman Q.C. and Ms Emma Hargreaves (instructed by Orrick, Herrington & Sutcliffe LLP) for the First Respondent
Mr Andrew Green Q.C, Mr Kevin Prosser Q.C and Mr Fraser Campbell (instructed by Baker & McKenzie LLP) for the Fourth Respondent

Cases referenced

Cases in bold have further reading - click to view.

Legislation referenced

Legislation in bold has further reading - click to view.

  • Corporation Tax Act 2010, ss 1033-1043
  • Income Tax (Trading and Other Income) Act 2005, ss368, 383, and 385