Phew - it is 3 months since I last posted anything on the subject of boardroom bust ups and shareholder disputes. Too busy with my sleeves rolled up fighting battles on behalf of beleaguered clients!
Here are some things I learned in 2012 about shareholder disputes.
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The Supreme Court has upheld the Court of Appeal decision in Fulham Football Club (1987) -v- Richards affirming that a proper arbitration clause will exclude the option of bring an unfair prejudice petition (see previous post in this respect). The judicial approval of this option means that it is more likely that arbitration clauses will start to appear in shareholders agreements.
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Most disputes that come to lawyers are, almost by definition, problem disputes. The route to resolving the problem, the rights and wrongs and often even the scope of the dispute are often unclear. How you present the case at the early stages will determine whether a quick deal is possible or you are going to have to grind out a solution. A well timed bluff can be a useful tactic.
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If you are looking for a lawyer with expertise in a particular area then a good starting point is to look at the leading legal directories.
The latest edition of the Legal 500 directory in the UK has recently been published. I am pleased to report that the expertise of my firm and myself in the areas of commercial litigation, and specifically shareholders disputes, continues to be recognised.
Click on the the following link to visit the Legal 500 online.
Further to my previous post on this subject the Court of Appeal have upheld the decision in Fulham Football Club (1987) Ltd -v- Richards and confirmed that arbitration clauses in shareholder agreements will be enforced. Arbitration is an effective way of resolving disputes but minority shareholders in particular should be wary of agreeing to an arbitration clause in a shareholders agreement.
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Following on from Vince Cable’s colourful language at the Lib Dem conference, it is not just big business which is prone to a touch of murkiness. It is often the case that a boardroom dispute or shareholders dispute can shine a light on business practices which flourish in the darker crevices in small businesses. This can often complicate resolution of such disputes. Whilst such misdemeanours are rarely decisive in determining the outcome they may have an impact on the value of any judgment or award. Accordingly, anybody potentially embarking on shareholder litigation should carefully consider what such litigation may reveal.
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A company’s accountants and auditors often play a key role in the business of smaller companies, acting as general advisers to the directors. This can lead to problems in the event of a shareholder dispute or boardoom battle.
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The merits of talking instead of fighting are very clear when it comes to boardroom disputes and shareholders disputes. Even a simple shareholder dispute can incur six figure legal costs on each side. A new mediation service has been launched which might help in this process.
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Boardroom Disputes, Shareholders disputes | Ed Weeks | 
January 4, 2013 9:52 am | 
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