LEXLAW Solicitors & Barristers
English law Unfair Prejudice Petitions offer a remedy for minority shareholders facing oppression by the majority within a company. Where the prospect of winding-up proves undesirable, section 994(1) of the Companies Act 2006 provides an alternative avenue for seeking redress. At LEXLAW, our expert company law team specialises in navigating the complexities of shareholder disputes and unfair prejudice claims.
UK financial institutions have been selling interest rate swaps and fixed-rate loans without fully disclosing the risks and contingent liabilities involved, leading to substantial liabilities for customers. Lexlaw, a law firm specialising in hidden derivatives litigation, advises on legal action for SMEs and individuals affected by mis-selling. They guide clients through obtaining redress, often achieving out-of-court settlements with banks and insurers eager to avoid precedent-setting judgments. Lexlaw provides a step-by-step guide for those suspecting they’ve been mis-sold financial products, encouraging prompt legal advice to meet claim deadlines.
In a significant shift, the Court of Appeal determined that unfair prejudice petitions under section 994 of the Companies Act 2006 have a 12-year statutory limitation period, reversing previous beliefs and affecting future legal approaches to such claims. This ruling, THG Plc v Zedra Trust Company (Jersey) Ltd [2024] EWCA Civ 158, changes the legal landscape for minority shareholder disputes, requiring a reevaluation of existing strategies and the potential for earlier claims.
In this case our lawyers defeated “London Credit”; a bridging lender that demanded circa £160,000.00 GBP. We applied to the High Court and successfully set aside a default judgment then forced the withdrawal of a statutory demand, and 3 interim charging orders. We then forced the other side to settle – for a fraction of the sum demanded.