Welcome to 2022 and our first LBPCF event of the year. HHJ Cadwallader introduced our latest LBPCF event on the 6th January 2022. The event marked a great start to the New Year and the first in a series of LBPCF events scheduled for 2022 (please see our news and events page for full details of forthcoming events).
The first session was on Unfair Prejudice Petitions and Derivative Actions. There were two speakers at the event. After introducing the event HHJ Cadwallader discussed Unfair Prejudice Petitions for 30 minutes. The Judge provided a thorough examination of the area. HHJ Judge Cadwallader discussed, inter alia, the Companies Act 2006 provisions, O’Neill v. Phillips offers, and suggested some reasons why an unfair prejudice petition might be brought before the Court. The Judge also spent some time on what constitutes ‘unfairness’ as well as the detail of procedure. This involved an examination of the relevant High Court procedures. The Liverpool Business and Property Court does hear unfair prejudice petitions. There were some very interesting insights from HH Judge Cadwallader’s judicial perspective on the topic. A full recoding of HHJ Cadwallader’s talk can be seen here.
Our second speaker was Andrew Vinson, a barrister at Exchange Chambers. Andrew followed the Judge’s talk with a thorough examination of derivative actions for the second half of the session. Andrew introduced the area of derivative actions and provided some fascinating insights into derivative actions. Andrew discussed, inter alia, Foss v. Harbottle, claimant standing, the statutory regime, recent case law, starting a claim, good faith, and, alternative remedies. Andrew then went on to discuss the common law position. A recording of Andrew Vinson’s talk can be seen here.
HHJ Cadwallader and Andrew Vinson then answered a number of questions flowing from their respective talks that were put by the audience. These questions included an interesting question on O’Neill v. Phillips offers and the exclusion from management of a director. A second question focused on quasi-partnership status and how quasi-partnership might change over time.
For details of forthcoming events see our news and events pages here.