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Derivative action allowed where insider conduct cripples a company; respondent ordered to pay for unpaid shares or forfeit them.
Company law – derivative action – exception to Foss v Harbottle – director/shareholder may sue on behalf of company where insiders cripple company; Share capital – unpaid shares – call-in and forfeiture; Remedies – interest and writ of execution; Costs awarded to successful applicants.
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