BCC 964/2019
This case involved the validity of a decision by a company's general assembly to approve the company's acquisition by another company. A shareholder had asked for shares which were now in the other company to be transferred back to the original company.
Background
A claimant filed a case against two companies and the Ministry of Commerce and Industry before the court. He requested the court to dismiss a transfer of his shares to the second company and to register his shares in the first company. He also requested the court to order the ministry to stop any action to convert the first company to a one-person company.
The court dismissed the case.
The claimant appealed the ruling before the court of appeal. The court upheld the appealed ruling.
The claimant appealed the ruling before the court of cassation. He said in his grounds of appeal that the ruling had erred in the application of law and had insufficient evidence of causation. He said that the court had established the ruling on the grounds of the decision made by the general assembly of the first company although it was an invalid decision.