3 February 2014
START DATE
END DATE
7-Feb-14
MFP-2000 LP v Viking Capital Limited & Misa Investments Limited
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
COMMERCIAL COURT CIVIL JURISDICTION
Hellman J
John Brisby QC Delroy Duncan Nicole Tovey
Narinder Hargun Christian Luthi
FACTS OF THE CASE:
Viking Capital & Misa intended to acquire MFP-2000?s shares in Viking River Cruises Limited; issued a section 103 notice; before acquisition sold all shares to Viking Cruises Ltd raising issue whether they could still acquire MFP-2000's shares
SUMMARY:
Whether holders of more than 95% shares retain right to acquire remaining shares if their shareholding drops below 95% before acquisition
OUTCOMES:
Court ruled in favor of respondents holding they remain entitled to acquire shares at price fixed by court despite no longer holding 95% share
RULED IN FAVOUR OF:
Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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MFP-2000 LP v Viking Capital Limited & Misa Investments Limited
Viking Capital & Misa intended to acquire MFP-2000?s shares in Viking River Cruises Limited; issued a section 103 notice; before acquisition sold all shares to Viking Cruises Ltd raising issue whether they could still acquire MFP-2000's shares