DCC 36/2010

This case involved whether a liquidator and some former partners had acted in another partner's best interests when business assets had been sold. The case looked at the extent to which the liquidation agreement should be followed and whether it was legitimate for the former partners to buy some of the company assets in a public auction arranged by the liquidator.

Background

The Claimant, an ex-Partner, filed their case against his former partners, and his ex-Company's liquidator.

The Claimant alleged that the liquidator and the partners had conspired to block the proper implementation of the liquidation and unwinding of the company, in a manner that affected their best interest.

The Claimant alleged that the Liquidator had failed to conduct their mandate properly by failing to adhere to the requirements set out under the parties' voluntary agreement to liquidate the company and that the liquidator had acted wrongly by allowing some former partners in acquiring certain assets of the company, by way of a public auction.

The Court of First Instance dismissed the Claimant's claim noting that no wrongdoing was observed.

The Court of Appeal further supported the Court of First Instance's decision.

Proceedings