BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
COMMERCIAL COURT (QBD)
Fetter Lane London EC4A 1NL |
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B e f o r e :
(Sitting as a Judge of the High Court)
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CLAVIS SECURITIES PLC & ORS |
Claimants |
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- and - |
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INTERTRUST MANAGEMENT LIMITED & ORS |
Defendants |
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Unit 1 Blenheim Court, Beaufort Business Park, Bristol, BS32 4NE
Web: www.epiqglobal.com/en-gb/ Email: civil@epiqglobal.co.uk
(Official Shorthand Writers to the Court)
MR ALLAN appeared on behalf of the Sixth and Seventh Defendants (the "BCLP" Defendants)
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Crown Copyright ©
"On 15 April 2021 -
(a) the second defendant was validly and effectively replaced as share trustee with Highbury Investments Limited who consequently holds on trust 49,999 of the 50,000 ordinary shares authorised and issued by Securities;
(b) the entire share capital of Options, being a one fully paid-up ordinary share, was validly and effectively transferred to HIL from the second defendant. HIL in its capacity as member and holder of the 49,999 ordinary shares of Securities and thereby holding 99.998 of the voting rights in Securities, validly and effectively -
(i) replaced the second defendant as company secretary with the third claimant and replaced the third to fifth defendants as directors of Securities with Mr Hussain, HIL and Options …"
"The statutory power of appointing new or additional trustees as modified under this Deed shall apply to this Deed and the Trust and shall be exercisable by the person or persons who are for the time being the Trustees."