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Offshore Cases

M Pulido -v- UST Holdings Ltd et al [2015] SC (Bda) 67 Com (25 September 2015)

September 2015 InjunctionsCompanies

BERMUDA

SUPREME COURT

SHARE TRANSFER – INJUNCTION TO RESTRAIN COMPANY FROM HOLDING SPECIAL GENERAL MEETING TO ADOPT AMENDED BYE-LAWS – PRE-EMPTION RIGHTS

A transferee of shares who has not yet been registered on the share register of the company does not have standing to obtain interim relief prohibiting an impugned meeting. Hellman J found that a transfer of shares who contended that they were the legal owner of 50,000 shares in UST Holdings Ltd (the “Company”), but who had not yet been entered on the company register, did not have standing to seek injunctive relief to prevent a resolution being put to the members of the Company to adopt restated bye-laws in full substitution for the Company’s existing bye-laws.

 

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M Pulido -v- UST Holdings Ltd et al [2015] SC (Bda) 67 Com (25 September 2015)

 

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