When successful unfair prejudice petitions are considered
by the courts, they most commonly result in an order requiring the
purchase of the shares held by the petitioner by other members of
the company or by the company itself. In a recent case the High
Court considered a dispute in which a share buy-out was not viewed
as an appropriate remedy, offering a useful reminder for potential
petitioners of the court's wide discretion when exercising
its powers.
Safeguarding the rights of shareholders
If you're a shareholder and other shareholders are
preventing you from being involved in the business or are acting in
a manner which is prejudicial to your interests as a shareholder,
then, unless you hold special rights under the company's
articles or set out in a separate agreement, your options are
limited. You can sell your shares (if you can) or accept the fact
you have no say in the affairs of the company despite being one of
its owners. If these options are not
