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In respect of both approaches, the courts have been greatly influenced by the view that a company is a democracy, that a shareholder who is outvoted should abide by the result of a vote and that a court should intervene only when the interests of justice clearly demand it. As Lord Wilberforce put it, ?Those who take interests in companies limited by shares have to accept majority rule'...
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As Lord Wilberforce put it, ?Those who take interests in companies limited by shares have to accept majority rule'.
Regarding the dismissal of Damien and Donald from the Board, it seems that it will indeed amount to unfairly prejudicial conduct. We can refer to Brownlow v G H Marshall Ltd where the company was a family business with the shares held equally by a brother and two sisters, all of whom were directors...
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