11/4/2015
START DATE
END DATE
12/4/2015
Majuro Investment Corporation v. Vasile Timis et al.
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
Commercial Court
IAN RC KAWALEY CJ
Delroy Duncan Nicole Tovey Trott & Duncan Limited
Alex Potts Sedgwick Chudleigh Limited
FACTS OF THE CASE:
Majuro Investment Corporation a shareholder of African Minerals Limited (D7) and its subsidiary claims equitable compensation from defendants for alleged misconduct affecting D7's profitability. The case questions the plaintiff's standing as a derivative claimant and jurisdiction over foreign defendants.
SUMMARY:
Standing of plaintiff to pursue derivative action jurisdiction under Order 11 rule 1(1)(c)
OUTCOMES:
Dismissal of the claim due to lack of standing and jurisdiction
RULED IN FAVOUR OF:
Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Download Case Summary:
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Majuro Investment Corporation v. Vasile Timis et al.
Majuro Investment Corporation a shareholder of African Minerals Limited (D7) and its subsidiary claims equitable compensation from defendants for alleged misconduct affecting D7's profitability. The case questions the plaintiff's standing as a derivative claimant and jurisdiction over foreign defendants.