BCC 94/2020 issued on 19/10/2020
This case involved the purchase of shares in a company where the purchasers had later discovered the company was not financially sound. A key point was whether they had notified the defendants in the correct way that they were filing such a case.
Background
Two claimants filed a case against two companies and their managers. They requested the defendants to pay 100000 Dinars as temporary compensation. They also requested the court to appoint an expert in order to assess the financial losses of the fourth defendant. They said that they had bought shares from the third company in the fourth one but they then discovered that the company was not financially sound.
The court dismissed the case against the first, third and fourth defendants.
The claimants appealed the ruling before the court of appeal. The court upheld the appealed ruling.