Read the full judgment text of HCA 000018/2001 on BabelCite. This High Court CFI judgment was delivered on 6 December 2002.
1. This is a derivative action by the plaintiff as shareholder of the 2nd defendant, a limited company ("the company"), against the 1st defendant who is the nominee shareholder of his brother's, the 3rd defendant's shareholding. This rather grand title to the nature of the proceedings is, I am afraid, not done justice by the modesty in financial terms of the parties themselves and of the company which, as will become clear shortly, was seriously under-capitalised and in a period of a little over