Guernsey Judgment 6/2002 - Reid, Bryson and Spickernell v European Internet Capital Limited and Four Others

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Companies—shareholders—right to convene meeting—agent may requisition meeting on shareholders' behalf provided shareholders recognized as company to do so and all consent—if consent not properly obtained by requisitioning instruments, subsequent ratification not possible, but oral consent prima facie suggests consent obtained and meeting may validly be held. Companies—shareholders—right to convene meeting—court may exceptionally grant interim injunction restraining shareholders from removing directors, e.g. if disputed shares relied on for right to call meeting, serious disruption caused if shares then declared invalid and damages insufficient remedy, and on balance of convenience injunction better than considerable uncertainty whilst validity of shares determined in foreign jurisdiction.