A Derivative Claim permits a minority Shareholder, as representative of all the other Shareholders, to issue Court proceedings on behalf of the company, to try and redress a wrong committed by the majority Shareholders of the company.
The commercial litigation specialists here at Neil Davies and Partners were recently instructed by a multi-national client on a cross-border dispute over £100,000 worth of goods ordered and supplied by our client to the UK high street shop chain BHS Limited (‘BHS’), that weren’t paid for following its administration. This case study details the successful action we took to resolve this issue for our client.
This case study shows that Personal Financial Liability was Imposed on Directors Following an Unsuccessful Defence of a Winding Up Petition.
As Insolvency and Commercial Litigation Specialists, the recently reported case of Winnington Networks Communications Ltd (‘the Company’) v Revenue & Customs Commissioners (2015) is of great interest to us and our clients. This is because it represents a further attack on the ‘corporate veil’ and demonstrates the willingness of the Court to look behind the company and impose Costs Orders on directors personally.