KCC 421/2002

This case involved a request to order the defendant to provide financial statement proving their losses after one of the defendants had refused to pay profit and capital shares in a company and given up the management of the company which had caused them damage. The claimants claim that damage had existed was correct.

Background

The claimants filed a case against a defendant and requested the court to order him to provide a financial statement of the company over the period from 30/09/1979 to 04/04/1998 and pay compensation.

The claimants then added three defendants to the case.

The court ruled the first defendant should provide a financial statement for the period.

The claimants and the defendant appealed the ruling before the court of appeal. The court upheld the appealed ruling.

Decision

The claimants appealed the ruling before the court of cassation and stated in their grounds of appeal that the ruling had insufficient evidence of causation because the first defendant had refused to pay them their share in the capital and profits and given up the management of the company and caused them damage. The claimants stated the court had rejected their request for compensation though damage existed.