SM Life Ventures LLC v Susan Morrice and others


Reference:
16 July 2012 (as yet unreported).

Date:
23rd January 2013

Court:
High Court, British Virgin Islands

Comment:

A minority shareholders’ action heard in the commercial court in the British Virgin Islands. Bannister J considered the Nevis Limited Liability Company Ordinance 1995 (“NLLCO”) and whether the majority were guilty of unfairly prejudicial conduct. He also considered whether the Court had power under NLLCO to order the company to purchase any oppressed member’s shares and whether the Court had power under NLLCO or its inherent jurisdiction to order the dissolution of the Company.

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