United Kingdom derivative actionliquidationminority shareholders

Appeal in Ferguson v Wallbridge

[1935] UKPC 7; [1935] 3 DLR 66

JurisdictionUnited Kingdom

CourtJudicial Committee of the Privy Council (on appeal from British Columbia)

Year1935

StatusPersuasive authority

Key Principle

A minority shareholder's right to maintain a derivative/representative action in the company's name against the majority ceases once the company goes into liquidation, because the liquidator (subject to the court's direction on the application of a contributory) then has authority to litigate in the company's name.

Area of Law

General

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