Levent, I want to thank you for the dignity in which you handled my small case. You have such heart and are a warm, caring person. All those pluses besides being a professional. With that combination, you can’t help but be very successful.
Chris Sommers

Annacott Holdings Ltd, Re [2013] EWCA Civ. 119

The appellant in this case appealed against a judge’s directions for ascertaining the fair value of the shares in a property investment company, held by the respondent. Both the defendant and respondent have effectively been 50:50 shareholders in the company. The respondent brought a petition for relief from unfair prejudice under the Companies Act 2006, s 994, and succeeded on grounds that the appellant had procured the company to transfer its entire portfolio of properties to him at an undervalue. The judge then ordered the appellant to purchase the respondent’s shares and made directions for ascertaining the fair value of those shares. The court allowed the appeal in part. The initial judge saw the award of quasi-interest as an essential part of the relief granted and had discretion as to the rate awarded and had to exercise caution in order for the respondent not to be overcompensated.  Therefore the judge here lowered the selling cost.

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