''Re Tottenham Hotspur plc''

994 Year 994 ( CMXCIV) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. Events By place Byzantine Empire * September 15 – Battle of the Orontes: Fatimid forces, under Turkish genera ...

1 BCLC 655 is a UK company law case concerning

unfair prejudice Unfair prejudice in United Kingdom, company law is a statutory form of action that may be brought by aggrieved shareholders against their company. Under the Companies Act 2006 the relevant provision is s 994, the identical successor to s 459 Compa ...

under s 459 of the Companies Act 1985, now s 994

Companies Act 2006 The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. The Act was brought into force in stages, with the final provision being commenced on 1 October 2009. It largely ...

Facts

In 1993 both Mr Alan Sugar and Mr Terry Venables had a 50-50 interest in

Tottenham Hotspur Tottenham Hotspur Football Club, commonly referred to as Tottenham () or Spurs, is a professional association football, football club based in Tottenham, London, England. It competes in the Premier League, the top flight of English footba ...

plc. They agreed Mr Sugar would be the chairman and Mr Venables would be the chief executive. Subsequently, there was a rights issue. 48% of

plc's shares were held by

Amshold Amshold Group Limited is Alan Sugar's private holding company. The company is responsible for all of Alan Sugar's private companies and companies formed in partnership with Alan Sugar as a result of the UK TV show The Apprentice. In March 2013 t ...

Ltd by Mr Sugar. 23% were controlled by Mr Venables through Edennote plc. Mr Sugar had a majority of voting shares. Mr Sugar and Mr Venables fell out. Mr Venables was removed from his position as chief executive through a majority vote on the board of directors. Mr Venables, through Edennote plc began a s 459 petition, on the basis that both had been under agreement from 1991 that he would participate in management, and that Mr Sugar had breached this agreement by taking control of the company. Edennote alleged that it had a legitimate expectation that Mr Venables would participate in the affairs of the company on the basis of shared control even after the rights issue.

Judgment

Notes

{{reflist, 2 United Kingdom company case law 1993 in United Kingdom case law Tottenham Hotspur F.C.

Facts

Judgment

See also

Notes