Paul Strelitz And Oliver Hyams Successful In The Court Of Appeal In The Latest Hearing In A Long Running International Shareholding Dispute Concerning A UK-based Technology Company

• Law Firm: Gatehouse Chambers
• Subject Matter: Litigation, Mediation & Arbitration, Trials & Appeals & Compensation
• Author: Mr Paul Strelitz and Oliver Hyams
• Published date: 08 March 2023

LA Micro Group (UK) Ltd & Anor v LA Micro Group, Inc & Ors [2023] EWCA Civ 214

Paul Strelitz and Oliver Hyams successful in the Court of Appeal in the latest hearing in a long running international shareholding dispute concerning a UK-based technology company.

The Court of Appeal considered whether an equitable interest in shares can be disposed of by an oral agreement. The Court concluded that, notwithstanding section 53(1)(c) of the LPA 1925, which ordinarily requires signed writing, the transaction may be effective if the agreement is specifically enforceable. In such circumstances, the equitable interest is held subject to a new constructive trust in favour of the...